The Malta Gaming Authority has confirmed the introduction of amendments to the gaming licence fees regulations.
Malta.- The Malta Gaming Authority (MGA) has announced that on October 15, a number of amendments to the Gaming Licence Fees Regulations of 2018 were introduced. These amendments will come into effect on January 1, 2020.
The MGA explained that for a licensee to be considered a start-up undertaking, it must cumulatively satisfy a list of criteria established by the Regulations, which include amongst other criteria, requirements relating to maximum amounts of revenue from the same or related sector.
After the amendment, in order for an applicant to qualify as a start-up, it and its corporate group must not have generated more than €10 million of revenue in the 36 months prior to application.
“This amendment is aimed at ensuring that undertakings classified as start-ups are truly such, whilst simultaneously not prejudicing corporate groups that were in the business many years back and wish to benefit from such an incentive by starting up again,” said MGA.
MGA publishes Brexit guidelines
MGA published a guidance note on the impact of Brexit. The gaming authority said that the contents of the guidance note from UK’s exit from the European Union are solely related to regulatory affairs within the remit of the MGA.
The Malta authority said that operators should be aware of ulterior consequences resulting from Brexit. These include, but aren’t limited, to data protection, immigration, employment, duty and copyright considerations.
The authority said that the purpose of the guidelines is to provide an indication of the potential impact on the gaming industry operating in or from Malta and the transitory measures that may be availed of in order to ensure minimal impact on regulatory efficiency and the ongoing business.
In order to hold a licence in Malta there is a pre-requisite that a person must be established within the European Economic Area.