Malta parliament passes new Gaming Act
New framework, to be enacted in July, will simplify the licencing system and enforce stricter regulatory powers
The Maltese Parliament has passed the latest iteration of the country’s Gaming Act which includes sweeping changes to AML and player protection measures.
The new regulations will come into force in July for remote gambling operators and will widen the MGA’s power of compliance and enforcement via stricter measures.
Partner at WH Partners in Malta, Dr Joseph Borg, told EGR the most prominent changes for operators will be the shift from multiple licence types to a simplified system of B2B and B2C licences.
Changes will also include the removal of gambling tax on B2B licences, longer licencing periods of 10 years and a much clearer procedure for customer appeals via the regulator’s Player Support Unit.
“The new law consolidates over fourteen years of regulatory experience in the remote gaming sector in Malta,” Borg said.
“Consumer protection and innovation are at the forefront with more stringent requirements and further investigative powers to the Authority being introduced.
“On the other hand, the new law also focuses on the adoption of non-duplication of controls [with a] risk-based approach, as well as game and technology neutrality.”
Malta-based operators will not be required to take any immediate action although they will be expected to make the changes as the law comes into force.
Secretary for financial services, digital economy and innovation, Silvio Schembri, said the regulator would continually review the framework to focus on further strengthening player protection measures.