The Malta Gaming Authority last year revoked six licences and issued 10 warnings against gaming operators, according to its annual report.
Published on Friday, the report revealed that the MGA issued 16 administrative penalties and reached three regulatory settlements, with a collective total financial penalty of €179,150.
It carried out 28 compliance audits and 228 desktop reviews apart from anti-money laundering compliance checks on behalf of the Financial Intelligence and Analysis Unit. These led to the revocation of licences and warnings.
A total of 25 licensees were subject to remediation and/or administrative measures by the FIAU, ranging from written reprimands to administrative penalties, based on the breaches identified during examinations carried out in previous years, including by the MGA. In total, these amounted to just over €738,000.
Over 1,500 criminal probity screening checks were undertaken on individuals, shareholders and ultimate beneficial owners, key persons and other employees, and companies from both the land-based and online gaming sectors.
Six individuals and companies did not pass the authority’s probity standards due to various factors, including risks of money laundering or funding of terrorism.
According to its report, the authority received 41 gaming licence applications during 2022. Thirty-one licences were issued while 21 were unsuccessful.
The MGA conducted 85 responsible gaming-themed website checks, through which 38 URLs were found to have misleading information. This led to 17 notices being published on the MGA website, and 30 observation letters that were sent out reflecting responsible gaming issues.
In its efforts to protect players and encourage responsible gambling, the authority supported a total of 5,280 players who requested assistance, covering most of the cases received during 2022 and the spill-over from 2021.
The MGA said it had started a process for the possible implementation of a voluntary Environmental, Social and Governance (ESG) Code of Good Practice for the industry to showcase and increase the positive social and environmental impacts of the gambling sector.
In publishing the report, MGA CEO Carl Brincat said: “This report is a testament to our collective efforts in promoting a fair and sustainable gaming ecosystem. Through proactive measures and leaner regulation processes, we strive to ensure a level playing field that nurtures innovation while safeguarding against any potential risks.
“As the global gaming landscape evolves, our role becomes even more critical. We embrace this responsibility with utmost determination, working tirelessly to stay ahead of emerging trends, technologies, and challenges. We remain steadfast in our pursuit of robust frameworks that inspire confidence, protect vulnerable individuals and render Malta the home for gaming operators of goodwill.”