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The MGA publishes its 2021 Annual Report and Financial Statements

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The Malta Gaming Authority (MGA/Authority) is publishing its Annual Report and audited Financial Statements for the financial year ending 31 December 2021. The report provides an overview of the Authority’s achievements during the year under review and outlines the performance of the Maltese gaming industry during 2021, coupled with a medium-term outlook into the future. This is also followed by a detailed report explaining key statistics for the land-based and online gaming sectors.

  Supervisory Activities

  • 54 on-site compliance audits were conducted and 230 desktop reviews were carried out, accounting for 65.5% coverage of the licensees base during 2021, accompanied by additional AML/CFT compliance examinations that are carried out by the FIAU, or the MGA on its behalf. Following information which emerged from compliance audits, compliance reviews and formal investigations, the Authority issued 64 warnings and cancelled seven (7) licences. In addition, the MGA issued a total of 31 administrative penalties as well as three (3) regulatory settlements, with a collective total financial penalty of €176,016.
  • An additional 10 licensees were subject to enforcement 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 €863,000.
  • 13 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. An additional three (3) applications were rejected by the Supervisory Council.
  • Over 1,150 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.
  • The Authority continued with its commitment to supervise its online gaming licensees and conducted 91 interviews with prospective MLROs and key persons carrying out the AML/CFT function to determine the knowledge and suitability of each candidate.
  • The Commercial Communication Committee of the MGA issued a total of 21 letters of Breach, of which 13 operators were found to be in breach of the Commercial Communications Regulations, (S.L. 583.09).
  • In its efforts to protect players and encourage responsible gambling the Authority assisted a total of 6,170 players that requested assistance, covering most of the cases received during 2021 and the spill-over from 2020.
  • The MGA also investigated 79 cases of websites having misleading references to the Authority and published a total of 61 notices on its website with the aim to prevent the public from falling victim to such scams. Furthermore, an additional 26 responsible gambling website checks were conducted.
  • A sectoral risk assessment on money laundering and funding of terrorism-related risks affecting the land-based and online gaming sectors in Malta was undertaken.

Improvements in Efficiency and Effectiveness

  • With the aim of reducing any unnecessary bureaucracy on its licensees, the Authority has reviewed the Gaming Licence Application Process as well as launched the Personal Portfolio.
  • Improvements have been made in the way non-compliance matters are notified to the relevant licensee, and how operators are directed to rectify their position.
  • The MGA published amendments to the ‘Guidance on the use of Innovative Technology Arrangements and the acceptance of Virtual Financial Assets and Virtual Tokens through the implementation of a Sandbox Environment’.
  • Amendments to Article 22 of the Player Protection Directive (Directive 2 of 2018) were published, accompanied by a policy paper on ‘Amending the Return to Player Minimum Percentage’. Such amendments aim to streamline the minimum Return to Player percentage applicable to licensees across all sectors.
  • A series of amendments to the Gaming Authorisations and Compliance Directive (Directive 3 of 2018) were published, including the extension of the applicability of suspicious betting reporting requirements to B2B licensees as well as broader amendments to the key functions. The latter was accompanied by the introduction of the Key Function Eligibility Criteria Policy which outlines the requirements the persons holding the various key functions are expected to fulfil in order to satisfactorily perform these duties which are vital for the applicable regulatory outcomes.
  • A public consultation on the Applicability of the System and Compliance Audit Service Provider Guidelines to Financial Audit was issued with the aim of communicating and refining the proposal being put forward in relation to revised Guidelines and in order to promote a greater understanding of the proposal itself.
  • The Authority established a dedicated Business Transformation team, tasked with assisting each of the MGA’s directorates to continuously re-assess and improve processes, to increase efficiency and reduce administrative burdens on the MGA and industry alike, and to focus resources where these truly provide added value.

National and International Cooperation

  • A new alerting process was introduced vis-à-vis the sharing of knowledge on suspicious events that is reported with the whole industry without revealing the source of the information. Since its introduction, during the last quarter of 2021, a total of 72 alerts were sent to the industry, which resulted in a total of 20 new suspicious betting reports received via the Suspicious Betting Reporting Mechanism after such alerts were corresponded.
  • A total of 131 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. As a result of such requests, data was exchanged in 41 instances. Additionally, a total of 329 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 the manipulation of sports competitions or breaches in sports rules, as well as an indirect participant in 29 such investigations.
  • The Authority received a total of 89 international cooperation requests from other regulators and sent 75 such requests, with the majority referring to requests for background checks as part of an authorisation process.
  • A total of 125 letters of Good Standing were issued providing feedback on the regulatory good standing of our licenced operators to the relevant authorities asking for this information.
  • An International Affairs Strategy has been devised as one of the measures aimed at enhancing Malta’s international credibility, fostering collaborative relationships with targeted stakeholders and mitigating the risks that the gaming industry in Malta is facing.
  • In collaboration with the Malta Institute of Accountants two technical release notices were published, “Audit 02/21 Gaming Tax Payable and Levy on Gaming Devices” and “Audit 02/21 – Player Funds and Jackpot Funds”.
  • Through a joint collaboration between the Authority, the FIAU and the MFSA, a document was published providing an overview of the key findings of Business Risk Assessments carried out by subject persons as per their obligations under the PMLFTR and the FIAU’s Implementing Procedures.
  • A two-day workshop in collaboration with Bank of Valletta was organised, whereby various aspects of the control mechanisms as a Regulator were discussed.

In publishing this report, the CEO, Dr Carl Brincat said: “As an organisation, beyond continuing to ensure that we meet our day-to-day objectives, we used 2021 to start laying the groundwork for improvements that we will see in the months and years to come.  It is a priority for us to move towards leaner and more efficient processes, to remove unnecessary bureaucracy which introduces burdens on the industry without providing added value, and to become more effective in achieving our regulatory priorities.”

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HIPTHER Community Voices: Interview with Dr. Maria Loumpourdi, founder and Managing Director of Made From Within

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In this interview, we speak with Dr. Maria Loumpourdi, founder and Managing Director of Made From Within, a CPD-accredited leadership development provider. She shares her journey into leadership and coaching, the philosophy behind her work, and how evidence-based development can drive real change—particularly in high-growth sectors like iGaming. 

 

What originally sparked your interest in leadership development and coaching? Was there a defining moment that set you on this path? 

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The spark started very early. As a kid, I was always very curious and loved learning, but more than that, I loved sharing what I learned. I even remember trying to memorise a 24-volume encyclopaedia just so I could drop interesting facts into conversations. Looking back, that passion for learning and helping others grow was always there. 

When it came time to choose a university path, education felt like the natural choice. I loved it (and still do), but I quickly started to feel uneasy about how rigid the school system is.  More often than not, we teach what’s prescribed, not necessarily what kids want or need to learn. That made me think more seriously about adult education, where people have more agency in their development and are often more personally invested. 

That decision led me to corporate learning and development. I started in the Learning & Development department of an iGaming company, and within a year, I moved into a leadership role heading L&D in the manufacturing sector. That role gave me hands-on experience in managing teams and developing as a leader myself. By that time, I had already completed a master’s in educational leadership and had been accepted into a doctoral programme. At that point, I already knew my research would focus on leadership development. 

Another key realisation came when I started developing leaders. I began to see that while training is a necessary first step, it cannot, on its own, lead to lasting behavioural change. That’s when I realised coaching was the missing piece; it’s what helps people truly internalise and apply what they’ve learned. I became an accredited coach and eventually a coaching supervisor (a coach of coaches), and that shifted how I approached development. 

Everything came together when I completed my doctorate and published my book, Leaders Made From Within. That was an important moment for me because it also marked the launch of my company, Made from Within. It was the point where everything aligned: my love for learning, leadership, developing others, and the belief that real change (whether individual or organisational) comes from within

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Made From Within is CPD-accredited and globally active. What inspired you to start it, and what impact are you most proud of so far? 

Made From Within wasn’t a business idea; it was the result of over a decade of real-world experience, empirical research, and a deep understanding of what works (and what doesn’t) when it comes to leadership and organisational development. I spent many years building my expertise, holding senior roles in international organisations, and seeing firsthand what drives real performance and sustainable business growth. Just as importantly, I saw the common patterns that hold people and businesses back. Many of the lessons I learned (both the successes and the hard-won mistakes) shaped the foundation of Made From Within

I started Made From Within because I wanted to offer something practical, evidence-based, and rooted in real experience; instead of unsupported theories, popular opinions, or trends. The leadership and personal development space is currently crowded, and I was very intentional about two things: 1. making sure that my background clearly shows I am not another self-proclaimed guru on social media, and 2. ensuring this wasn’t just another one-size-fits-all offering. At Made From Within, we don’t do off-the-shelf. We work closely with clients to understand their goals, context, and challenges, then build tailored solutions that reflect their reality. We’ve also developed CPD-accredited programmes for individuals and teams who want to grow in a structured and credible way. 

What I’m most proud of is how much we’ve achieved in such a short time. Made From Within has already supported leaders and teams across organisations and industries, enabling behavioural and organisational change. We’re now expanding access by offering our accredited courses directly through our website, which allows more people to develop themselves on their own terms, and at their own pace.  

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Your career spans several industries—from banking and manufacturing to iGaming. What pivotal experiences have shaped your leadership philosophy? 

While some leadership challenges (like earning trust, managing conflict, or leading through change) are universal, I’ve found that every industry comes with its own unspoken rules and unique pressures. The culture portrayed on the company website is rarely (if ever) the full picture. Experiencing these differences first-hand has taught me that effective leadership isn’t about following one fixed approach. It’s about learning when to listen, when to challenge, and how to earn credibility in novel environments. 

One of the experiences that shaped my approach happened in my very first week as a department head in the manufacturing sector. I was asked to represent the function in a customer audit, even though I had just stepped into the role and barely had any exposure to the industry or the company. During the audit, the client questioned how certain KPIs were calculated. I hadn’t prepared the presentation and didn’t have the answer. It would’ve been easy (and probably expected) to say, “I’m new”, or shift the blame to the person who created it. But I saw it as an opportunity to lead. 

I admitted I didn’t have the answer at that moment and promised to come back with it by the end of the day. When I approached the team member who had prepared the figures, they told me they couldn’t remember. This person was already on their way out of the company, having previously received feedback that they weren’t ready for the role I had stepped into. Still, I didn’t point fingers. I worked with the team to find the answer, verified the data, and returned to the client with a clear explanation. We earned the client’s trust, salvaged the audit, and celebrated with the team despite the initial mistake. 

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That experience grounded one of the core principles of my leadership philosophy: when you lead, you take ownership. You don’t blame others, you don’t throw people under the bus, and you don’t step back when things go wrong. If you’re in a leadership role, you take responsibility and step up even when it’s not directly your fault. That’s the kind of leader I’ve worked to be across every industry I’ve been part of. 

 

In iGaming, rapid growth often outpaces structured development. How can coaching help companies build stronger leadership pipelines during periods of scale? 

In iGaming, growth often happens so quickly that people find themselves in leadership roles before they’ve had the time (or the opportunity) to develop the skills or confidence to lead. Coaching helps bridge that gap. It provides a safe space for new and emerging leaders to speak openly about their challenges, reflect on their behaviours, set development goals for themselves and their teams, and work toward those goals with a coach acting as both a thinking partner and an accountability partner. 

It’s just as valuable for senior leaders. Coaching can help them build executive presence and avoid slipping into autopilot decision-making, which, in a fast-paced environment like iGaming, can have serious long-term consequences for both individuals and the business. 

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I’ve seen the impact of coaching firsthand. I’ve worked with people who were on performance improvement plans (essentially on their way out), and within six months, they were promoted into leadership roles. What changed? Their mindset, their behaviour, how they communicated, how they built relationships, and how they demonstrated their competence. Coaching made that shift possible. 

Coaching meets people where they are, which is exactly what’s needed during periods of rapid scale. Especially in iGaming, where employee turnover often reaches or exceeds 30% (meaning one in three employees leave each year) offering coaching, even as a smaller operator or supplier, can be the difference between losing talent (often to competitors) and building a strong leadership pipeline. 

 

What advice would you give to iGaming companies looking to invest in leadership development for the first time? Where should they start? 

My key piece of advice is this: don’t buy off-the-shelf leadership development programmes. Every year, over $360 billion is invested on leadership development globally, but only 10–20% of that has a measurable return on investment. The reason? Most programmes aren’t tailored to the actual needs of the business and its leaders. 

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If you want real impact, you need to start with a proper analysis of your organisation’s current leadership needs and challenges. Get clear on what effective leadership looks like in your organisation, involve senior leadership teams from the beginning, and design a programme that fits; not just something that looks good on paper. When done right, tailored programmes can achieve up to 10x the ROI. 

In my book Leaders Made From Within: The Blueprint for Developing Leadership in Individuals and Organisations, I share the 5D Leadership Development Process (Define, Design, Deliver, Deploy, and Debrief), a model grounded in my doctoral research. It’s a practical, evidence-based process to building leadership capability, and it’s especially relevant for high-growth sectors like iGaming. 

 

What skills or leadership traits are most important for success in iGaming—and how can coaching help develop them? 

Success in iGaming requires a combination of leadership skills due to the industry’s fast pace, volatility, and competitiveness. In my experience developing talent in this industry, some of the most critical skills include: 

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  • Self-awareness and self-regulation: Leaders need to manage themselves under pressure and stay grounded. Coaching supports this by helping individuals recognise patterns, triggers, and habits; and understand how these affect their performance and relationships in a structured way. 
  • Building relationships and networks: In a fast-moving and relatively young industry, strong cross-functional collaboration is essential. Coaching helps leaders improve their communication, influencing, and trust-building skills, especially when leading international teams where alignment is harder to achieve. 
  • Creativity and innovation: iGaming leaders often face ambiguous situations without a clear playbook. Coaching provides space to step back, think differently, challenge assumptions, and explore new solutions, which is something daily operations rarely allow time for. 
  • Decision-making: Rapid scaling requires leaders who can make informed, timely decisions without having all the answers. Coaching helps leaders gain clarity, improve their judgment, overcome indecision, and build confidence in high-stakes or complex situations. 
  • Business acumen: Leaders need a broader understanding of how the business operates, not just within their own function. Coaching encourages a more strategic mindset by connecting day-to-day decisions to long-term business outcomes. For example, a commercial leader should understand product development, and vice versa. Everyone needs at least a baseline understanding of the financial and regulatory side of the business.  

In short, coaching develops these skills not through theory, but through structured reflection, real-world application, accountability, and feedback.  

The post HIPTHER Community Voices: Interview with Dr. Maria Loumpourdi, founder and Managing Director of Made From Within appeared first on European Gaming Industry News.

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GamCare Trustee Dominic Harrison awarded MBE

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Statement from GamCare’s Chair Margot Daly after Trustee Dominic Harrison awarded MBE for services to Gambling Harm Prevention and Support 

“I am delighted that Dominic has been recognised in this way. Throughout his many years with GamCare, and as Chair of our Audit Committee since 2023, Dominic has brought compassion and common sense to the charity’s vital work. During this time, Dominic has seen the charity scale to help tens of thousands of people every year who need our support. 

This news also pays tribute to GamCare’s frontline staff who fulfil the organisation’s mission every day – providing free, confidential support services for those experiencing gambling harms. I am thrilled for both Dominic and the recognition of GamCare’s essential work supporting those who need it most.” 

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About Dominic 

He has held senior positions in Finance, Marketing and Operations with Grand Metropolitan plc, Bass plc and Hilton Group plc. He spent a decade in the gambling sector in leadership roles with Ladbrokes and Gala Coral. Since 2012, he has held a number of CEO roles in fast growth, people-based, regulated businesses both in the UK and Internationally. 

He is a qualified Executive Coach currently working with clients across a variety of sectors. In addition to his coaching work, he is an Operating Partner with Innervation Capital Partners – a specialist investor in Education businesses – focusing on the Early Years sector. He is Chair of the Audit, Risk and Development Committee. 

The post GamCare Trustee Dominic Harrison awarded MBE appeared first on European Gaming Industry News.

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Betsoft Releases Coins of Alkemor: Extreme Magic – Hold & Win

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Betsoft Gaming has released Coins of Alkemor: Extreme Magic – Hold & Win, a fast-paced 3×3 slot packed with powerful features and mystical energy.

The iconic wizard Alkemor returns in the game that elevates the popular Hold & Win mechanic with three explosive Extreme Features. Players can trigger the bonus with two or more BONUS symbols and at least one WIZARD BONUS—one of which must be EXTREME—awarding three respins and the chance to land magical golden coins.

Each Extreme Feature adds a unique twist: EXPAND duplicates BONUS symbols in key areas, MULTI-X applies multipliers of up to 5x and BOOST increases the value of all coin symbols in play. Combined, they deliver high-energy gameplay and thrilling win potential.

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Additional excitement comes with the Chest of Gold, a surprise base game feature that can award instant prizes, while WILDs on all reels boost win frequency. Players can also choose the Buy Feature for immediate access to the full Hold & Win experience with all Extreme Features activated.

Fernando Van Velzen, Head of Account Management at Betsoft, said: “With Coins of Alkemor, we’ve combined one of our most iconic characters with a supercharged version of Hold & Win. It’s a compact format that delivers big on features and excitement—exactly what players are looking for right now.”

The post Betsoft Releases Coins of Alkemor: Extreme Magic – Hold & Win appeared first on European Gaming Industry News.

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