Gambling in Malta: MGA hails market sustainability in annual report
The Malta Gaming Authority has published its annual report on land-based and online gaming.
Malta.- The Malta Gaming Authority (MGA) has published its annual report 2023, analysing the actions it took in relation to both land-based and online gaming in Malta up until December 31. Coming a little late this year, the report shows the MGA received 24 applications for new gaming licences in the period, a drop from 41 applications in 2022.
The regulator issued 15 licences, while 13 applications were rejected or withdrawn (some had been submitted in 2022). Meanwhile, it issued 28 warnings to gaming licensees. It suspended nine licences and cancelled 11. Meanwhile, it issued 19 administrative penalties and one regulatory settlement, which together totalled €172,900 in fines.
The regulator conducted 13 AML/CFT Compliance Examinations, while a further 15 were led by Malta’s FIAU. The FIAU imposed remediation and/or administrative penalties on seven gaming licensees owing to violations uncovered during examinations in previous years. These amounted to €994,000 in fines.
The MGA and FIAU also undertook 38 interviews with Money Laundering Reporting Officers (MLROs) to assess their understanding of AML/CFT rules. The regulator said these highlighted a clear understanding of risk profiling, know-your-customer checks and general threats but showed room to improve in the areas of administrative duties and specific AML risks.
The regulator said it responded to 4,483 players who sought help (including some who had contacted the regulator in 2022). It also conducted 72 checks for responsible gambling measures and sent 41 observation letters to licensees outlining areas for improvement.
MGA CEO Charles Mizzi said: “It is not a coincidence that the theme for the Annual Report is ‘sustainability’. The MGA’s ability to strike the right balance between allowing the industry to thrive and grow in a sustainable manner, while also protecting consumers, is key to Malta’s continued success.”
