Malta wants to reposition the gaming sector
The government announced that it wants to review and consolidate a legislation of the gaming industry into a single law in order to reposition the sector.
Malta.- Parliamentary Secretary Silvio Schembri revealed on Tuesday that the government will review and consolidate legislation on the gaming industry into a single law in order to reposition the gaming sector.
The law that’s been in force for 14 years saw the industry grow to 12 per cent of GDP, but the new one would repeal existing laws and replace it with a single act that would strengthen the current regulations. Schembri said that the government wants to make sure that the industry keeps running responsibly, fairly and free from criminal activity. “The government wants to ensure that the Maltese jurisdiction provides a safe and well-regulated environment where the industry can also develop and innovate.” Schembri remarked that thanks to this new gaming bill, the industry will grow by another four per cent.
MGA’s Executive Chairman, Joseph Cuschieri, said: “This is an important milestone and we welcome this major step forward by the Maltese Government. This Bill contains draft proposals which aim to bridge the regulatory gap between various gaming verticals and channels, including new technologies serving as a platform to future proof gaming regulation, whilst ensuring that consumers enjoy a consistent level of protection.”
Last month, it was reported that the Malta Gaming Authority (MGA) started an investigation into every licensee connected to or owned by Italians in order to avoid links with organised crime. The probe’s results were the suspension of a licence, the cancellation of another and the decision to leave the country in three other companies’ cases. Schembri confirmed that the MGA was looking into the Italian operators in the country.
The Secretary also remarked that diligence and scrutiny were an ongoing exercise at the MGA and that action against those who were violating Malta’s gambling laws was taken as soon as the information reached the authority.
