Malta’s New Licensing Regime – a Step Ahead?
2011 has witnessed an overhaul in the remote gaming licensing process. With the amalgamation of the first two phases of the process, applicants are likely to reap the fruits of a speedier procedure – addressing one of the major concerns of most prospective applicants.
The new process requires company formation prior to filing an application for licensing with the LGA. Following the Authority’s approval of written submissions but before issuance of the license, a systems audit with a two-fold aim is required. Firstly, it enables the applicant to transform the project from a theoretical plan to a real gaming system in a ‘testing environment’. The latter irons out a lot of teething problems before going live with real players. As a result of the preliminary examination, players now have an added level of assurance that the system (and not solely its documentation) has been preliminarily reviewed by the LGA.
Upon successful completion of the systems audit, licensees can now kick start their project from an earlier stage. This improvement is valuable in areas such as marketing and promotion. The previous 6-month process period has now been superseded by a 12-month period for the successful finalization of a full compliance audit; hence providing licensees with twice the time for preparatory work and rectification of any issues.
Weighing the above, our judgement is that the changes implemented are surely a commendable step placing the right ingredients in the mix for a systematic, practical and applicant-friendly procedure.
