Malta’s Parliament has approved new provisions to be added to its national ‘Gaming Act’, which will move to strengthen the Maltese Gaming Authority‘s powers to enforce industry compliance, standards and regulatory guidelines on gambling/betting stakeholders.
The revision of Gaming Act, will deliver a new regulatory mandate for Malta gambling enterprises to adhere to, primarily focusing on strengthening the industry’s anti-money-laundering framework and improving player protection standards.
As national gambling regulator, the MGA secures a greater supervisory role, gaining the power to investigate, intervene or monitor, betting enterprises deemed to have breached AML policies.
Aiding the MGA’s compliance operations, will be the development of a new ‘player support unit’, designed to be a mediator between players and operators relating to potential disputes.
Further, provisions will see the MGA move to revamp Malta’s responsible gaming measures and mandate for licensed operators and gaming-related services.
Updating the market, the MGA’s Chief Executive Officer, Heathcliff Farrugia, said: “This is a very important milestone for the MGA. The new law establishes very robust compliance and enforcement powers and structures, and lays the necessary foundation to continue to strengthen player protection.”
Should the new provisions secure final approval, the MGA will look to install its mandate by July 2018 for remote gaming operators, followed by a January 2019 for land-based enterprises.