Malta Gaming Authority publishes first post-Brexit guidelines for operators
Licensing and future authorisations of egaming firms included in new guidance
The Malta Gaming Authority (MGA) has published its first guidance note for operators on how to handle the United Kingdom leaving the European Union.
Existing regulations require Malta egaming licencees to be “established within the European Economic Area”, something which will effectively cease in the event of Brexit.
The MGA said operators should take all “necessary measures” to ensure that this pre-requisite is met. It recommends that operators transfer their Maltese licence to another company within the same corporate group, under article 17 of current Maltese regulations which governs the transfer of licences between operators.
Under this clause, affected operators are required to notify the MGA within 30 days of their intent to transfer the licence, with the MGA having the final say on whether this can occur. As part of the preparations for this change, the MGA has given operators 12 months to transfer their licences.
Regulation 22 of existing Maltese egaming regulations requires operators without a licence issued by the MGA to apply for a recognition notice of their other licences with the MGA.
The MGA confirmed all existing recognition notices used by UK licensed operators using this mechanism to operate in Malta will cease to be valid after Brexit. Any existing applications submitted prior to Brexit will be honoured for a 12-month period but will not be renewed. However, any operator with a pre-existing recognition notice from the UK must reapply to the MGA for a recognition notice for any other EU/EEA licence it may have to be authorised by the MGA to continue to operate in Malta. Any firm which does not do so could be subject to criminal charges for breaching MGA regulations.
The MGA said it was keen to ensure “minimal impact” on its own regulatory efficiency and the ongoing business of the island’s registered operators. It confirmed that all current UK financial institutions, licensed and regulated payment methods will remain valid forms of transaction for Maltese-licensed operators post Brexit.
Finally, the MGA said it accepts licensed operators having offices and performing their duties from the UK and has no objection to operators maintaining database equipment in the UK.
Earlier this month, the UK government issued its own guidance note for gambling operators about what they should do in the event of a no-deal Brexit.