Gaming: New legal framework in Malta from summer 2018 onwards
New Gaming Bill introduces more efficient license system
A new Gaming Bill will be tabled in the Malta Parliament in the next weeks. Government thus wants to ensure that the Maltese jurisdiction provides a safe and efficiently regulated environment where the Gaming industry can further develop and innovate. The new legislation is expected to help the industry to grow by another 4 per cent.
Key features of the New Gaming Bill include:
New license system:
- Introducing a license system, in which there will be only two different types of licenses: a Business-to-Consumer (B2C) license and a Business-to-Business (B2B) license – covering all different types of activities across multiple distribution channels.
Thus the current multi-license system will be replaced.
Automating the Reporting:
- Moving towards automated reporting, facilitating the compliance with and adherence to regulatory obligations.
Exempting B2B licenses from Gaming tax.
Segmenting the Key Official Role:
- The role of the so-called Key Official, being a liaison person between the Malta Gaming Authority (MGA) and the license holder, is to be segmented into various key functions within a licensed activity. This will raise the bar for persons of responsibility within a gaming operation.
Broadening the regulatory scope:
- This should increase MGA oversight and allow for intervention where necessary and in a proportionate manner.
The new legislative framework is an important milestone to preserve Malta’s leading position in the Gaming sector bridging the current regulatory gap between various gaming verticals and channels. Its aim is to future proof the gaming industry on the island by including new technologies in the sector and making the licensing process more streamlined, whilst ensuring that consumers enjoy a consistent level of protection. Thus Malta shows its commitment to continuously be at the forefront of developments in the Gaming industry.