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The MGA Publishes its 2020 Annual Report & Financial Statements
The Malta Gaming Authority (MGA/Authority) is publishing its Annual Report and audited Financial Statements for the financial year ending 31 December 2020. The report provides an overview of the work performed throughout the year and highlights major projects undertaken by the Authority throughout the same period. In addition, the report also outlines the performance of the Maltese gaming industry during 2020 as well as a medium-term outlook into the future, followed by a detailed report explaining key statistics for the land-based and online gaming sectors in the context of the COVID-19 pandemic. The full report may be accessed on this link.
The following are the key highlights from the Annual Report covering the year 2020:
- Between January and December 2020, following information which emerged from compliance audits, compliance reviews, and formal investigations, the Authority issued 69 warnings, suspended 3 licences, and cancelled another 12. In addition, the MGA issued a total of 24 administrative penalties.
- In 2020, 30 compliance audits were conducted by the Compliance and AML function, one of which related to a live studio, and 324 desktop reviews were carried out, of which 98 identified deficiencies which were accordingly escalated to the Compliance and Enforcement Committee.
- In 2020, 8 individuals and companies were deemed not to be up to the Authority’s probity standards by the Fit & Proper Committee, mainly on the basis of mitigating the risks of money laundering or funding of terrorism.
- During the twelve-month period of 2020, a total of 1,475 criminal probity screening checks were undertaken, an increase of 13.5% when compared to the year 2019.
- In terms of AML/CFT, during the twelve-month period of 2020, a total of 27 supervisory examinations on online gaming licensees were conducted by the MGA, of which 10 were full scope examinations, 3 were targeted examinations, 8 were thematic examinations, and 6 were supervisory meetings.
- In 2020, the MGA conducted a total of 65 interviews with prospective MLROs and key persons carrying out the AML/CFT function to determine the knowledge and suitability of each candidate, out of which 40 were approved, 17 were conditionally approved and 8 were rejected.
- The Commercial Communication Committee of the MGA took action against 10 adverts or promotions that, in the opinion of the Committee, inappropriately exploited the COVID-19 pandemic.
- During 2020 the Player Support Unit received a total of 5,625 requests for assistance, a 58% increase over 2019, potentially stemming at least partly from the impact of the COVID-19 pandemic on player behaviour.
- In its efforts to boost knowledge sharing and cooperation with international counterparts, the MGA hosted a delegation of members of the Lotteries and Gaming Board and the Ministry of Home Affairs and Cultural Heritage of the Republic of Zimbabwe.
- The Authority received 67 international cooperation requests from other regulators and sent 47 such requests, with the majority referring to requests for background checks as part of an authorisation process.
- During the year 2020, a total of 168 requests for information specifically relating to the manipulation of sports competitions or breaches in sports rules were submitted by enforcement agencies, sport governing bodies, integrity units, and other regulatory bodies. Additionally, a total of 288 suspicious betting reports from licensees and other concerned parties were received.
- During the period under review, the Authority was a direct participant in 20 different investigations across the globe relating to manipulation of sports competitions or breaches in sports rules.
- Recognising the importance of establishing data sharing agreements with relevant stakeholders, including sport governing bodies and other platforms whose function includes the detection of suspicious betting activities, the MGA signed a total of five agreements, namely a data sharing agreement with the International Cricket Council, the Swedish Football Association, the Darts Regulation Authority, the World Professional Billiards & Snooker Association, and the Slovak Football Association.
- During 2020, the MGA and the FIAU signed an updated version of the MoU which brought forth better cooperative instruments for the supervision of AML/CFT in the gaming sector.
- The Authority entered into an MoU with the Malta Business Registry with the aim of facilitating the ongoing close communication between authorities and the effective sharing of information.
- With the aim of increasing cooperation with our international counterparts, an MoU was agreed to by the MGA and the Dutch Kansspelautoriteit (the Dutch Gambling Authority) on the basis that the two authorities will support each other by sharing best practices and information in support of their responsibilities at law, whilst also engaging in discussions on policy matters of interest.
- The MGA also enhanced its collaboration with the Commissioner for Voluntary Organisations by creating a process whereby any entity that applies for a non-profit game is only issued with a permit if such an entity is a registered and compliant voluntary organisation.
- Recognising the importance of regular dialogue with stakeholders, throughout 2020, over 55 external communications were sent, providing a synopsis of various updates and developments within the Authority and industry.
In publishing this report, the CEO, Dr Carl Brincat said: “The year 2020 will undoubtedly be remembered for the challenges the pandemic presented us with, and I am proud of the Authority’s employees who worked tirelessly to ensure that we continued to perform the functions required of us at law. Keeping the ship steady during a challenging year serves as a strong foundation for us to look ahead with renewed commitment to keep building on the positives and improve on our shortcomings, to reach new heights in our regulatory approach.”
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$50,000 Investment Prize & Global Exposure Await the Next Big iGaming Startup
Xanada Investments announced the launch of the Xanada Pitch Contest 2025, a global competition aimed at supporting iGaming startups seeking investment and growth opportunities in partnership with NEXT.io and Lilith PR Agency.
The contest offers a $50,000 equity investment to the winning startup, along with strategic mentorship, industry connections, and marketing support.
The competition will follow a two-stage selection process. From February 10 to April 1, 2025, startups can submit their applications online. Following the initial evaluation, the top five finalists will be announced on April 10, 2025, and will proceed to a live pitch event at the NEXT Summit in Valletta on May 8, 2025.
A Panel of Experts Will Choose the Winner
The final five startups will pitch their ideas live on stage at NEXT Valletta to a distinguished panel of judges, including:
- Vladimir Malakchi – CEO & Managing Partner, Xanada Investments
- Pierre Lindh – Co-founder & Managing Director, NEXT.io – The World’s iGaming Community
- Dmitry Belianin – CEO & Founder at Belianin, Co-founder & Managing Partner at Blask
- A Secret Judge – To be revealed soon
“A Unique Chance to Scale and Succeed”
“The Xanada Pitch Contest is raising the bar for startup competitions. This is a rare opportunity for iGaming startups – whether they are launching, growing, or looking to scale – to showcase their vision in front of key investors and decision-makers. We are committed to bringing together the brightest minds in the industry to support the next wave of innovation,” said Vladimir Malakchi, CEO & Managing Partner of Xanada Investments.
Who Should Apply?
The contest is open to Pre-Seed, Seed, and Series A startups operating in the iGaming sector. Startups at various growth stages – whether developing new solutions or scaling existing ones – are encouraged to apply.
Application and Key Dates
- Applications Open: February 10 – April 1, 2025
- Top 5 Finalists Announced: April 10, 2025
- Live Pitch Event: May 8, 2025, at NEXT Summit, Valletta
For further information and to apply, visit https://xanada.investments/contest or reach out to Xanada Investments at [email protected]
The post Xanada Investments Announces the Launch of the Xanada Pitch Contest 2025 appeared first on European Gaming Industry News.
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Pole Position Performance: GR8 Tech Transforms Client Challenges into Opportunities with CRM
GR8 Tech has launched a five-episode video series that demonstrates how its top-tier CRM can address key client challenges, such as improving communication, automating workflows, and delivering personalized experiences. Through real-life examples from GR8 Tech’s clients, viewers can discover how to unlock CRM’s full potential.
Watch Pole Position Performance: GR8 Tech CRM
Kateryna Pozdnysheva, GR8 Tech’s Chief Client Officer and Head of CRM Business Unit, leads the series. Along with her assistant Addi, Kateryna dives deep into the mechanics of CRM: how to design a CRM journey that targets both casino players and sports enthusiasts, ensuring that each player receives a personalized experience; how to engage with players effectively, test what resonates with them, and adjust strategies in real-time to improve performance. Viewers learn the importance of segmentation tools, which allow CRM to categorize players based on their habits, risk profiles, and preferences, all while navigating diverse markets. The series also emphasizes how to connect with players on a deeper level by crafting campaigns that deliver the right incentives at the perfect moment and via the most effective communication channels.
One of the highlights of GR8 Tech’s CRM solution is its ability to optimize player engagement to drive retention. Through advanced gamification tools like rewarding achievements, the CRM makes player interactions exciting and impactful. The series shows how these dynamic elements enhance the player experience, leading to a 25% increase in first-time deposits, 80% retention on average, and 75% engagement of MAU with gamified features. It highlights how GR8 Tech’s CRM serves as a powerful strategy for delivering personalized, effective, and results-driven client experiences.
The post Pole Position Performance: GR8 Tech Transforms Client Challenges into Opportunities with CRM appeared first on European Gaming Industry News.
Gainr.ai announces a strategic agreement with Goal Analytics for sports data models
Gainr.ai, a leader in AI-powered alternative trading solutions, is pleased to announce a strategic partnership with Goal Analytics – a top European data analytics company to enhance the performance of the Gainr Trading portfolio through advanced predictive data insights. This collaboration will provide Gainr Trading with high-quality, data-driven intelligence to optimise trading strategies, improve risk management, and refine AI-driven market-making models.
As a specialist in sports data analytics, Goal Analytics will supply Gainr Trading with in-depth statistical models and proprietary data sources, offering a crucial edge in predictive accuracy for trading syndicates. This partnership marks a significant step in Gainr.ai’s commitment to integrating best-in-class analytical expertise into its trading ecosystem, ensuring partners have access to cutting-edge insights to inform their strategies.
Gainr Trading is a scalable alternative trading fund, administered and audited by Suntera, leveraging Gainr.ai’s proprietary technology to execute verified prediction market strategies. The addition of high-quality data analytics strengthens its ability to optimise odds, enhance risk assessment, and refine AI-driven decision-making in real time.
Commenting on the announcement, Theodoros Koumis, CEO and Founder of Gainr.ai, stated: “Access to superior data is at the heart of every high-performance trading strategy. Our partnership with Goal Analytics allows us to integrate deeper statistical intelligence into Gainr Trading, ensuring our partners and investors benefit from the most accurate and actionable insights available. This collaboration underscores our commitment to advancing AI-driven trading solutions with academic-grade models and industry-leading automation.”
“We are very happy to team up with Gainr Trading and share our expertise in football data analytics and algorithm development. Gainr Trading’s expertise and experience in trading and execution makes this a highly compelling partnership forming a very strong syndicate for football. We are excited to support Gainr at all levels with our football data-driven expertise, creating a wide range new opportunities in the industry.” Malte Schmielewski CEO Goal Analytics.
With this expansion into Europe, Gainr.ai continues to enhance its alternative trading intelligence framework, ensuring its ecosystem remains at the forefront of AI-powered trading innovation. As demand for agile, data-driven trading strategies grows, Gainr Trading is well-positioned to provide superior analytics and automation for sports betting syndicates and alternative investment firms.
The post Gainr.ai and Goal Analytics Agree Trading Data Partnership appeared first on European Gaming Industry News.
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