New Malta Gaming Law
The new Gaming Act together with the subsidiary legislation and regulations specific to the gaming sector has officially been implemented today, 1 August 2018.
The new framework provides for a stricter, yet less bureaucratic, supervision of the gambling companies by the Malta Gaming Authority – the official regulator – with a view to simplifying the procedures and combatting illegal activities, namely money laundering and terrorist financing. The MGA's powers of intervention have been extended through the formalisation of the role of the Player Support Unit and reinforcement of the existing consumer protection standards. In addition, in an effort to combat illicit activities, a new reporting system will help track and tackle accordingly suspicious sports betting transactions.
During the launch of the new Malta Gaming law, the MGA’s Chief Executive Officer Heathcliff Farrugia stated that: Today marks one of the most important days in the history of the MGA. Years of hard work finally come to fruition. [...] This is the beginning of a new chapter in Maltese gaming regulation. One which builds on the foundations of the previous laws, and which empowers the Authority to further strengthen the way it regulates the industry, and to continue being a thought leader for the years the come.”
Subject to the transitory provisions contained in the new legislation, this framework is applicable for remote gaming operators as of today 1 August 2018, whereas it shall become applicable to land-based operators as of 1 January 2019.
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