The Maltese Parliament is currently considering a new gaming bill that will aggregate all current functions under a single primary Act of Parliament with several legislation sub-categories, intending to cover all fundamental gambling regulations as well as technical aspects of the sector.
Parliamentary Secretary for Financial Services, Hon. Silvio Schembri stressed the government’s effort to provide MGA with a clear-cut legislation framework that will enable it to refine all gaming services offered in Malta. The goal is for Malta to be the ultimate destination for iGaming companies where they can run their business profitably, in a well-structured legislatory framework.
According to the new bill there will be only 2 proposed types of licenses, a Business-to-Business (B2B) and a Business-to-Consumer (B2C) license to encompass a wide range of activities in various distribution channels. The new framework is projected to offer ample room for freedom and as a result innovation, as it is more objective-oriented than the one already in effect. However, no compromises are to be made in terms of safety and customer protection, as MGA now has extended control and monitoring to apply corrective measures where needed.
The Key Official role will now be split into various secondary roles as well, so that any licensed gaming activity can be better examined and delegated to more than a single person to ensure legislatory compliance.
MGA’s Player Support Unit is now declared as the official mediator between gaming companies and punters regarding all issues relevant to player protection, applying a common set of guidelines for both online and land-based gaming assets.
The new bill also intends to achieve more effective handling of Criminal and Administrative justice issues and automated reporting to facilitate MGA’s easier monitoring of the industry. Last but not least, B2B gaming license holders will not bear any gaming tax responsibilties at all, thus turning Malta into an attractive location for B2B companies.
MGA is the independent regulatory body of Malta that’s responsible for devising and implementing gambling legislation practices and governance that promote a safe gaming experience for customers as well as legal operations for bookmakers. The Authority are major advocates of transparency in all gaming operations, intending to actively show to all stakeholders that Malta is a safe haven for all gaming companies. They cover the whole spectrum of gaming activities such as lotteries, casinos, remote gaming, cruise casinos, gaming devices, as well as non-profit games. Well-known bookmakers licensed with MGA include Tipico, Redbet, Expekt, Nordicbet, Betsson, and Unibet.