Malta Gambling Authority
The aim of this Licensee Relationship Management System ('LRMS - Copyright ©2021') system is to simplify and digitise the Gaming and Licensee Management processes, whilst a dedicated dashboard will give all users the possibility to follow the status of their requests in Real-Time, ensuring efficiency and transparency.
The Gaming sector is a dynamic and growing sector in Malta, and is regulated under the provisions of the Gaming Act (Cap. 583 of the Laws of Malta) and other applicable regulatory instruments (hereinafter referred to as the ‘Regulations’). The Gaming regime applied by the MGA is both technology- and game-neutral, therefore encompassing any type of gaming offered. Any game offered which can be securely managed and is compliant with the Regulations, will be reviewed and considered for licensing and/or permits and/or any other approval by the MGA.
The Malta Gaming Authority (MGA) has published the amendments to its Sandbox Regulatory Framework. The amendments are: The authorised person and/or prospective authorised person shall be required to submit a legal opinion signed by a registered VFA agent, regarding the licensability or otherwise of the services in terms of the Virtual Financial Assets Act. Malta Gaming Authority Appoints New Chief Executive Officer. The Board of Governors of the Malta Gaming Authority has appointed Dr Carl Brincat as Chief Executive Officer of the MGA with immediate effect, in terms of article 6(2)(a) of the Gaming Act (Cap. 583 of the Laws of Malta). The Malta Gaming Authority: Uncovered. With more and more gambling companies moving online, as well as new online gambling companies springing up at a remarkable rate, the small European island of Malta has become a hub for gambling companies, ranging from online casinos to software providers. The Malta Gaming Authority (“MGA”) has published a guidance note (“Guidelines”) laying out the impact that the United Kingdom’s (“UK”) exit from the European Union (“EU”) will have on regulatory affairs within the remit of the MGA. The Malta Gaming Authority (MGA) is responsible for the governance of gaming in Malta and has developed policies for their remote gambling operations. In 2004, the Remote Gambling Regulations (L.N. 176/04) were revamped to offer four classes of Remote Gambling Licenses (RGL).
Whilst the Authority does its utmost to ensure cross-compatibility across all browsers, it is recommended that the latest version of Microsoft Edge is used for the best experience when using the MGA portal.
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The Malta Gaming Authority (MGA) (formerly the Lotteries and Gaming Authority) (LGA) is the gaming control board of Malta. It regulates most forms of gambling in its territory, including both land-based (casino, amusement and slot machines, betting offices, fantasy sports, and lotteries) and online gambling services including B2C and B2B services.
History[edit]
The MGA was established in 2001 to regulate the various sectors of the gaming industry that fall under the MGA's authority, by ensuring fairness transparency to players using gaming services, preventing crime, corruption and money laundering and to protect minor and vulnerable players.[1]
The MGA was one of the first regulators to offer legislation that regulates the activity of online gambling companies and create a secure atmosphere for players. A comprehensive set of legislation, regulations and directives regulate the industry, starting with Lotteries and Other Games Act, 2001, and Chapters 438 and 400 of the Laws of Malta.[2]
Malta Gambling Authority
The online gambling sector in Malta has grown tremendously since 2001, with the industry generating over 12% of the country's GDP.[3][4]
Functions[edit]
The MGA deals with:
- Protection of minors and vulnerable persons, while promoting responsible gaming in a safe environment.
- Licensing and regulation of the gaming operators.
- Guidance and cooperation at all stages of the application process.
- Protection of player funds, ensuring that all deposits and withdrawals are secure and enforceable.[5]
- Ensure the integrity of games and gaming devices, via audits and independent testing facilities to ensure the randomness of results of all games of chance.
- Monitoring of licensee activities to ensure compliance.
- Safeguarding of player rights, via investigation of complaints concerning the licensees on behalf of the players.
- Monitoring of activities to keep gaming free from criminal activities.
The MGA cannot enforce any operator to return stakes that have been voluntary placed and lost in a fair game, but it can provide advice and assistance in enforcing the deposited money and the actual winnings and aids in dispute resolution with players and its licencees when necessary.
In addition, the new gambling law in Malta introduces 'a duty of care for operators'. The MGA license holders are expected to monitor players' gambling habits, look for signs of problematic behaviour and intervene when necessary.[6]
The MGA licences several well-known online gambling companies. The list of current MGA licence holders is provided at the 'MGA Licensee Register'..
Structure[edit]
The MGA is composed of the following main entities:
- Non-Executive Board of Directors, primarily responsible for overseeing the strategic development of the Authority and ensuring that the set policy and strategic objectives are achieved. The Board is also responsible for policy development and overall risk management. Headed by an independent Chairman who may or may not be the CEO of the MGA.
- CEO, who is responsible for the overall execution and performance of the MGA functions.
- Executive Management Committee, who are delegated tasks by the CEO and are responsible for major functions of the MGA.
- Audit Committee, assisting the Board of Directors in ensuring good corporate governance, risk management, oversight of audit/accounting issues and internal controls, while overseeing the accounting and reporting processes and audits.
- Supervisory Council, which supervises and reviews the regulatory objectives of the MGA, and is responsible for ensuring the integrity, consistency and development of the regulatory functions of the MGA, while providing oversight and guidance in relation to ongoing regulatory issues, strategic regulation and act as an advisory committee to the Authority’s Board and management.
- Fit and Proper Committee, which assesses and determines whether applicants for an MGA Licence are fit and proper persons, especially from a criminal probity aspect, to be granted a gaming licence and be authorised to conduct gaming business activities.
Igaming Companies In Malta
References[edit]
- ^Interview: CEO of The Malta Gaming Authority, Casino.org (2019)
- ^MGA Gaming Sector Legislation and Regulations
- ^Stradbrooke, Steven. 'Malta gambling biz represents over 12% of national economy'. Calvin Ayre. Retrieved 22 Nov 2017.
- ^Mifsud, Russell. 'Heightened demand for talent in Malta's booming Gaming industry'. KPMG. Retrieved 29 Oct 2017.
- ^'Everything You Should Know About The Gambling Legislation'. March 2020.
- ^Halonen, Toni (February 2019). 'Interview of Heathcliff Farrugia, CEO of Malta Gaming Authority'.