Malta’s reputation as ‘home’ to igaming mustn’t be threatened – Gaming Malta

All stakeholders and authorities that serve the Maltese iGaming sector must evolve and adapt to the challenges the such growth brings about, Gaming Malta said in a statement.

“Whilst ongoing probity and due diligence checks and monitoring serve to ensure crime is kept out of gambling, the industry as a whole is encouraged to remain vigilant to ensure Malta’s reputation as a ‘home’ to gaming is not threatened,” Gaming Malta said.

“Certainly the events of the last week should not overshadow the significant contribution which Malta has given over more than a decade to the better regulation of remote gaming in Europe and worldwide.”

The Malta Gaming Authority has suspended the licenses of several gaming companies, following Italian investigation over suspected links to Mafia-type criminal organisation, the Calabrian ’Ndrangheta. Some of the companies were both licensed in Malta and Italy.

One of the principal objectives of gambling regulation is to keep this industry free from crime. In order for this objective to be reached it is imperative for regulators to properly vet license applicants and that quick action is taken when foul play is identified.

Gaming Malta said Malta, in 2004, was the first European Union member state to adopt regulations specifically governing the provision of gaming via means of distance communication. Though those regulations are now over a decade old, they contain a solid set of provisions which govern the process to be followed by the Malta Gaming Authority when licensing remote gaming operators.

Over the years Malta established itself as a leading jurisdiction for remote gaming also as a result of the high level of evaluation and compliance which the MGA expects from operators which it licenses.

“The fact that the MGA acted swiftly to suspend the licenses of those operators against which Italian authorities have brought some very serious charges is a clear message that illegality and abuse will not be tolerated and that Malta expects the highest levels of compliance from operators licensed here.

“In this context, Gaming Malta supports the actions taken by the MGA to maintain Malta’s reputation as a trustworthy and leading licensing jurisdiction.”

Gaming Malta said that it hoped that investigations underway shed more light on the facts, which could help regulators and law enforcement agencies now and in the future.

“The fact that action was taken against operators suspected of involvement with crime, has also been welcomed by the industry, which prefers to operate in a jurisdiction where compliance and high-standing are a prerequisite.

“There is no doubt that we need to consistently continue raising the bar in order to be market leading, innovative, robust, effective and respected. We need to appreciate where we can improve whilst working together as an industry. We need to see what threats lie ahead and devise strategies and plans which will see us mitigate such threats and potentially transform these into opportunities.”

Gaming Malta Board, a foundation set up by the Malta Gaming Authority and the Maltese Government and which brings together on its Board of Directors stakeholders including the MGA, Government, the Malta Remote Gaming Council, the Malta Chamber of Commerce, the Malta Institute of Accountants and the Chamber of Advocates.