The Malta Gaming Authority (MGA) canceled six gambling licenses last year, according to its latest annual report. It also issued 16 administrative penalties and made three regulatory settlements, for total fines of €179,150 (US$191,907).
According to Yogonet Gaming News, the 2022 figures reflect a downward trend in regulatory sanctions in the country. The Maltese agency canceled seven licenses in 2021 and 14 in pre-pandemic 2019. Penalties were down from 31 in 2021, and warnings dropped from 64 in 2021 to just 10 in 2022.
In addition, the regulator conducted more than 1,500 criminal probity checks on individuals, shareholders, ultimate beneficial owners, key persons and other employees and companies from both the land-based and online gaming sectors. In 2022, it received 41 gaming license applications and issued 31 licenses.
The authority is also planning to appoint a money-laundering reporting officer (MLRO), and may implement a voluntary environmental, social and governance (ESG) Code of Good Practice for the industry “to showcase and increase the positive social and environmental impacts of the gambling sector.”
Authority CEO Carl Brincat issued a statement calling the report a “testament to our collective efforts in promoting a fair and sustainable gaming ecosystem. Through proactive measures and leaner regulation processes, we strive to ensure a level playing field that nurtures innovation while safeguarding against any potential risks.
“As the global gaming landscape evolves, our role becomes even more critical. We embrace this responsibility with utmost determination, working tirelessly to stay ahead of emerging trends, technologies, and challenges,” he said. “We remain steadfast in our pursuit of robust frameworks that inspire confidence, protect vulnerable individuals and render Malta the home for gaming operators of good will.”
