Over the last few years, Malta has emerged the most reliable licensing body for gaming companies. In 2004, it became the first EU Member State to perform comprehensive legislation for online gaming companies and operators. That year also saw the all licensing regulations that govern the gaming industry published.
The Malta Gaming Authority issues two types of licenses- B2B and B2C permits. The licensing regulates any gaming offered using distance communication, including digital TV, internet, telephone and mobile technology. Operators looking for a gaming license in Malta go through a rigorous application process. They are required to submit detailed documentation relating to the company they intend to set up for review by Malta Gaming Authority. Here’s a brief overview of how to go about getting a license from MGA.
Pre-Application of the Gaming Licence
Before submitting the forms, applicants go through a pre-application process that ensures the application has complied with all the regulations. GTG Advocates can help you during this stage to ensure applicants have all the required details. In MGA’s experience, most applications are declined due to incomplete information.
The Application Process
This process has been standardised to one stage as applicants submit all the necessary information at a go and MGA commits to analyse the following details:
- Whether the applicant is fit to conduct a gaming business
- Whether the company is prepared from a business strategy point of view
- Whether the firm has implemented and tested what it has applied for from a technical perspective
- Has met the statutory and operational requirements prescribed by policy
Issuance of the Licence
After successful completion of the remote gaming application process, the applicant receives a ten-year license and can commence activity. Any changes regarding the gaming operations, e.g., the rules of the game, game offering and other divergences should be submitted to the authority for approval. Malta Gaming Authority requires the operator to submit yearly audited accounts, half-yearly reports and monthly reports. The monthly reports include a Player Funds’ report and a Gaming Tax report.