Requirements MGA has for new online casinos targeting Finnish players

The Malta Gaming Authority (MGA) is one of the most trusted regulators in the online gambling sector. There are over 500 gaming companies registered in Malta and most operate under the guidance of the MGA

An MGA license grants operators access to markets in dozens of countries worldwide, including Finland. But how can Finnish-facing operators acquire this license? What are all the MGA-licensed casinos for example on Kasinot24 list doing right to meet the requirements?

Let’s find out.

 The Fit and Proper Test

The first step to getting that Finnish-facing license is for the MGA to conduct an assessment on your business and all associated persons. 

The MGA will check with national and international agencies to see if there are any criminal investigations or potential financial/management issues.

You need more than a name, a goal, and a few bucks to start an online casino. Your record needs to be immaculate, and the same is true for all other directors and major shareholders.

Proper Business Planning

All applicants are expected to have an in-depth business plan. It should include a detailed financial forecast with projected Profit and Loss, Cash Flow, Marketing Strategies, and more.

You must show that you have planned for the future and have the means to follow through with those plans.

Operational and Capital Requirements

Gaming licenses require a minimum capital investment, the value of which will depend on the type of license (between €40,000 and €100,000). If multiple license types are required, these costs will be combined up to a maximum value of €240,000.

Technical documentation, incorporation documents, and information relating to the games, systems, and business procedures must also be produced and checked.

System Review

When the above steps have been successfully completed, you will be informed and then invited to implement your platform.

Applicants are given 60 days to complete this technical roll-out and can appoint an MGA-approved Service Provider to conduct an audit during that time.

The MGA will monitor the platform and make sure it adheres to the submitted business plan. If not, you may be expected to complete another application.

Only when this step has been completed will you be granted a license. This license lasts for 10 years, after which you must re-apply.

It’s not over just yet though.

Compliance Review

After going live, MGA license holders may be subject to compliance audits. These audits must be completed by MGA-approved Service Providers within 90 days of the compliance notice.

If you fail this audit, your license may be suspended or terminated.

If you want to see the full application process, click here to MGAs website.

Conclusion: Requirements for MGA

MGA licenses are used by many top Finnish operators and trusted by most Finnish players thanks to the following benefits:

  • Responsible Gambling 
  • Fair Gaming
  • Safe and Secure Networks
  • Trusted Payment Methods
  • Clear Bonus Terms
  • Tax-free Operations

If you’re targeting the Finnish market, the MGA is the way to go. It’s a license that’s trusted by players and operators alike, and one that covers a full spectrum of iGaming regulations.

So, keep the above requirements in mind and get a license that everyone trusts.  

Disclaimer: Play responsibly. For help, visit www.rgt.org.mt. Players must be over 18