News & Events

Malta News - 10/05/2018

Parliament Approves New Gaming Act



Published on The Malta Chamber 10th May, 2018

Parliament has approved the third and final reading of the new Gaming Act, which shall elevate Malta’s jurisdictional profile by strengthening the Malta Gaming Authority’s (MGA) supervisory role.

The new act strengthens the compliance and enforcement functions to better achieve the regulatory objectives, in line with concurrent developments relating to anti-money laundering and combating the funding of terrorism.

“This new framework shall also broaden the regulatory scope to increase the MGA’s oversight and to allow, in a proportionate manner, intervention where necessary,” a statement from the MGA read.

“As stated previously, the new Act will also segment the role of a Key Official within a licensed entity into various key functions for direct scrutiny and targeted supervision controls, and shall strengthen the player protection framework by formalising the role of the MGA’s Player Support Unit as a mediator between aggrieved players and operators.”

“The new Act also envisages new and more effective processes for criminal and administrative justice.

The MGA said that other important areas of focus included consumer protection standards, responsible gaming measures, reporting of suspicious sports betting transactions in the fight against the manipulation of sports competitions and objective-orientated standards to encourage innovation and development.

The legislation is scheduled to come into force on 1 July 2018 for remote gaming operators and, following a transitory period, on 1 January 2019 for land-based operators.

In order to facilitate the transition to the new legislative framework, the MGA has embarked on a process of liaison with existing licensees, and outreach shall be increased in due course both with operators as well as with other interested stakeholders. This shall include guidelines on the application and interpretation of the new laws and policy.

The MGA’s Chief Executive Officer, Heathcliff Farrugia stated; “This is a very important milestone for the MGA. The new law establishes very robust compliance and enforcement powers and structures, and lays the necessary foundation to continue to strengthen player protection.”

Published on The Malta Chamber 10th May, 2018

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