Malta Gaming Act comes into force
Streamlined regulatory and licensing framework goes live following delay
The Maltese Gaming Act has come into force, replacing the previous patchwork system of regulation and licensing with a single regulatory framework.
The new act is designed to increase the scope and powers of the Malta Gaming Authority (MGA), bringing its regulations in line with those contained in the European Union’s fourth AML directive.
It also aims to increase consumer protection and responsible gaming standards, while “promoting a risk-based approach” towards regulation.
MGA CEO Heathcliff Farrugia called the Act “the beginning of a new chapter” for Malta’s gaming regulatory regime. “One which builds on the foundations of the previous laws, and which empowers the Authority to further strengthen the way it regulates the industry, and to continue being a thought leader for the years to come.”
Adoption of the act follows a full review by the EU under its Technical Regulation Information System (TRIS) process.
The Malta Gaming Act was provisionally due to be adopted from 1 July, but was delayed following the submission of a ‘Detailed Opinion’ in the TRIS process by a member state and comments made by the European Commission.
No disclosure was made as to the identity of the state which had submitted the opinion however following these statements, the mandatory standstill period required under the TRIS process was extended to 16 July, forcing the MGA to push back the proposed launch date to 1 August.
In an exclusive interview with EGR Compliance, Farrugia said: “[The Act] does not merely increase the MGA’s regulatory powers, it rethinks the fundamentals of gaming regulation.
“A prime example would be the convergence of the licensing and regulatory framework for land-based and online gaming, as well as the introduction of the risk-based approach towards regulation.”