mga report reveals 13 licences refused between january and juneby Joker 20.12.2019 0 comments
The Malta Gaming Authority (MGA) has revealed that it had issued 13 licence refusals between January and June 2019 as confirmed in its interim performance report.
The report reviews the performance of the MGA, highlighting major projects undertaken during the first six months of the year.
It revealed that six of the 13 licence refusals were issued at onboarding and seven through ongoing monitoring, on the basis that either the company itself or the individuals connected to it were not deemed fit and proper.
In publishing this report, Peter Spiteri, Chief Officer Finance & Programme Management of the Authority, stated that: “During the first six months of 2019, the MGA continued with the implementation of the Gaming Act for the land-based industry that became subject to the new law from 1 January 2019. A lot has been done by the Authority to ensure that the implementation was completed effectively and all systems and procedures cater to the new requirements.
“During the past months, the MGA has increased the co-operation efforts with the international counterparts, relevant authorities and other regulatory bodies to further improve the efficacy of co-operation and exchange of information for better regulation.
“Despite various challenges facing the sector over the past years, the gaming sector continues to consolidate its standing within the Maltese economy. The MGA strives to ensure that the industry in Malta remains compliant with an evolving set of regulations that cater for newly emerging risks and maintains a strong reputation.”
The report also includes a section highlighting the key performance indicators for the first half of 2019 as well as a medium-term outlook into the future, followed by a detailed report explaining key statistics for land-based and online gaming sectors.
The MGA has upped its commitment to AML and Combating the Funding of Terrorism efforts through intelligence gathering and knowledge-sharing with relevant authorities, having previously signed an MoU with Spelinspektionen.
The MoU allows the two to facilitate on-going communications between the authorities, and to support the effective sharing of information on matters of mutual interest and policy areas.
Between January and June 2019, following information which emerged from compliance audits, compliance reviews, and formal investigations, the Authority issued 11 Notices of Reprimand, suspended 11 licences and cancelled another seven. In addition, the MGA issued a total of eight administrative fines.