Latest News

The MGA publishes its 2022 Annual Report and Financial Statements

Published

2 years ago

June 2, 2023

Reading Time: 4 minutes

The Malta Gaming Authority (MGA/Authority) is publishing its Annual Report and audited Financial Statements for the financial year ending 31 December 2022. In addition to outlining the performance of the Maltese gaming business in 2022, the report gives a broad summary of the Authority’s accomplishments during the year under review and offers a medium-term outlook for the future. A thorough report outlining key statistics for the land-based and online gaming industries is then presented.

Supervisory Activities

28 compliance audits were conducted and 228 desktop reviews were carried out during 2022, accompanied by additional AML/CFT compliance examinations that are carried out by the FIAU, or by the MGA on its behalf. Following information which emerged from compliance audits, compliance reviews and formal investigations, the Authority issued 10 warnings and cancelled six (6) licences. In addition, the MGA issued a total of 16 administrative penalties as well as three (3) regulatory settlements, with a collective total financial penalty of €179,150.

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.

Six (6) individuals and companies were deemed by the Fit & Proper Committee to not be up to the Authority’s probity standards due to various factors, including due to the risks of money laundering or funding of terrorism.

Forty-one (41) gaming licence applications were received during 2022. Thirty-one (31) licences were issued, while twenty-one (21) were unsuccessful.

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.

The Authority conducted 48 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 nine (9) Letters of Breach following breaches of the Commercial Communications Regulations (S.L. 583.09).

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 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.

Improvements in Efficiency and Effectiveness

The Authority commissioned a sectorial skills strategy to address the gaming industry’s challenges with respect to the ongoing demand for qualified and skilled human capital, which increased significantly as the economy grew and diversified into numerous sectors.

Consultation exercises were conducted with industry stakeholders regarding the bets offered by licensees – with a focus on sports integrity and player protection considerations – on the proposed amendments to the Player Protection Directive (Directive 2 of 2018), and on the proposed policy on the use of Innovative Technology Arrangements (ITAs) and the acceptance of Virtual Financial Assets (VFAs) and Virtual Tokens, which led to amendments and a finalised Policy, respectively.

The Authority streamlined the approval process of appointing an MLRO in collaboration with the FIAU while, at the same time, ensuring that the industry is kept updated on any changes affecting this process and on any best practices that are intrinsic to the role of the MLRO.

The concept of Agreed-Upon Procedures (AUPs) Reports was introduced, covering player funds and Gaming Revenue. Audit firms are drawing up these reports in compliance with the ‘International Standard on Related Services (ISRS) 4400 (Revised) Agreed-Upon Procedures Engagements’.

The MGA kickstarted a process for possibly implementing 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.

National and International Cooperation

Throughout 2022, the Authority issued 43 news items on its website and 26 external communications, providing a synopsis of various updates and developments at the Authority and across the industry.

A total of 224 alerts were sent to the industry, 167 of which were also sent to the appropriate Sports Governing Bodies.

A total of 44 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 25 instances. Additionally, a total of 475 suspicious betting reports from licensees and other concerned parties were received.

During the period under review, the Authority was a direct participant in 15 different investigations across the globe relating to the manipulation of sports competitions or breaches in sports rules, as well as an indirect participant in 3 such investigations.

The Authority received a total of 83 international cooperation requests from other regulators and sent 97 such requests, with the majority referring to requests for background checks as part of an authorisation process.

A total of 177 official replies were issued providing feedback on the regulatory good standing of our licensed operators to the relevant authorities asking for this information.

The MGA works together with other local regulating authorities and governing bodies. This is reflected through responses furnished by the MGA to requests for information made by the Asset Recovery Bureau (ARB), the FIAU, as well as the MPF on the gaming sector. Additionally, the relevant information is provided to the Sanctions Monitoring Board (SMB) to assist in issuing penalties in instances of non-compliance with sanctions screening obligations.

In publishing this report, the CEO, Dr Carl Brincat said: “This report is 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 good will.”

Latest News

Fairspin Receives Nomination for “Best Crypto Casino 2025”

Published

8 hours ago

October 28, 2025

Master Editor

The blockchain gaming pioneer Fairspin has been shortlisted for “Best Crypto Casino 2025” at the SiGMA Central Europe B2C Awards.

This latest nomination follows Fairspin’s earlier victory at the AffPapa iGaming Awards 2025, where it earned the title “Crypto Casino of the Year.” Together, these honors confirm Fairspin’s reputation as a brand that delivers not just innovation but real value for every player — enjoy speed, transparency, and rewards at every step!

Millions of Spins. One Trusted Brand

Fairspin is where the future of online gaming unfolds. Built on the principles of trust and loyalty, this casino offers an experience unlike any other. It’s where players get more than just luck: instant cashouts, transparent gameplay, and real rewards that grow with every spin.

Fairspin earns trust the only way that matters — through proof. Every bet, win, and TFS reward is verified on-chain, setting the standard for integrity in modern gaming.

Fairspin continues to expand its VIP program, offering tailored features as part of its broader crypto gaming platform.

Redefining Fair Play with Blockchain Technology

For those who know value, Fairspin delivers it without compromise. With over 10,000 premium titles from the world’s top studios, the platform seamlessly blends entertainment and technology to create an elite gaming experience.

Powered by its native TFS token, Fairspin rewards loyalty through Play to Earn and Hold to Earn — programs designed for those who play smartly and stay consistent. The more you play, the greater your benefits.

What Sets Fairspin Apart:

Transparency & Real Rewards: Every bet is recorded on the blockchain and pays back in TFS tokens — stake them for risk-free passive income or exchange for exclusive bonuses and rewards.
CopyStake Revolution: Ability to mirror the strategies of top winners in a single click. CopyStake turns expert-level play into effortless success.
Life-Changing Wins: Fairspin has become a hotspot for headline-making wins, like a $4.2 million payout in Rio Games by 3 Oaks Gaming, all verified on-chain.

Crypto Freedom

With over 30 supported cryptocurrencies, including BTC, ETH, USDT, and BNB, Fairspin ensures instant cashouts and total control — no borders, no delays.

The SiGMA Central Europe B2C Awards celebrate innovation and excellence across the online gaming industry. Fairspin’s nomination further strengthens its reputation as one of the most forward-thinking brands shaping the future of crypto gaming.

About Fairspin

Fairspin Casino delivers a next-generation gaming experience powered by blockchain technology. With provably fair gameplay, a selection of over 10,000 top-quality titles, and an advanced token-based reward system, Fairspin merges trust, innovation, and entertainment, setting a new benchmark for modern online casinos.

Contact

TFS PR

TFS

Fairspin

[email protected]

BEON

QTech Games adds more creative content from BEON

Published

8 hours ago

October 28, 2025

George Miller

qtech-games-adds-more-creative-content-from-beon

Reading Time: 2 minutes

QTech Games, the leading game aggregator across all emerging markets, has continued to maintain the momentum in its premium pipeline, as evidenced by its latest deal with BEON, an emerging force in the slots space, whose first raft of games is crash games-focussed.

Integrating a progressive portfolio from one of the most productive and innovative developers in the sector adds more muscle to QTech Games’ proprietary platform, which is leading the way across growth markets like LatAm and Africa. In a progressive production line that will span different slots genres, BEON is also committed to launching games tailored to specific partner requests, while simultaneously growing its portfolio with a new wave of titles in development.

As a result BEON is building a reputation for creating high-quality, immersive games with standout features that set them apart in any igaming domain, thanks to a smooth performance running off agile mechanics which are dedicated to gameplay precision and optimal retention. Its first five games to be released comprise Skydot, Fury Flight, Redy, Nomad and Orizon, while BEON’s unique Crash Game Generator tool allows operator partners to launch customised content inside 24 hours.

This collaboration delivers a targeted range of localized content, enabling QTech Games to continue to meet the varied preferences of players across emerging markets, while supporting both companies’ ambitions for global growth.

Philip Doftvik, QTech Games’ CEO, said: “BEON’s initial rollout of eye-catching crash games is premised on clever mechanics, easily intelligible gameplay, high payouts and colourful graphics, which are breaking up an often-copycat environment. This kind of content is well-suited to LatAm and African markets, which directly tracks our ongoing expansion throughout these territories. These games are robust, scalable, and future-ready – so, we look forward to seeing what’s next. ”

Saba Chkheidze, Managing Partner at BEON, added: “Partnering with QTech Games constitutes the perfect opportunity for us to bolster our product distribution across emerging markets and deliver our fantastic crash games to more and more top-tier operators.

“It’s a collaboration which marks a step-change in BEON’s growth strategy across untapped markets like Latin America and Africa, where we hope our games will connect with many new players. Aside from crash games, our roadmap is packed with fresh concepts and slots titles that aim to combine engaging gameplay with solid technical performance, ensuring that our partners and players always have something new to look forward to.”

The post QTech Games adds more creative content from BEON appeared first on European Gaming Industry News.

Behind the Gloves

GR8 Tech Brings Behind The Gloves Boxing Experience to SiGMA Central Europe 2025

Published

8 hours ago

October 28, 2025

George Miller

gr8-tech-brings-behind-the-gloves-boxing-experience-to-sigma-central-europe-2025

Reading Time: 2 minutes

GR8 Tech is adding a knockout dimension to its SiGMA Central Europe presence with Behind the Gloves. On November 3–6 in Rome, booth 5028-2 visitors can take up a challenge and train like a champion with Lee McFarland, iGaming veteran and founder of the Behind The Glove initiative.

Step Into the Ring

Each day at GR8 Tech’s booth 5028-2, Lee McFarland will lead 15-minute boxing training sessions on specialized pads, giving participants a taste of the discipline, focus, and resilience that define both elite athletes and elite operators. Sessions run:

11:00 AM – 12:00 PM: Morning knockout slot
2:00 PM – 4:00 PM: Afternoon power rounds

With a limited capacity of 12 slots per day, pre-registration is required at this LINK. Slots are available for individuals or pairs looking to share the experience.

Champions Train Together

The collaboration between GR8 Tech and Behind the Gloves is a natural fit. Lee McFarland, a British military veteran turned iGaming consultant, created the initiative to combine boxing with corporate wellness and social responsibility, proving that strong businesses are built on strong people and stronger communities.

“At Behind The Gloves, we’ve always believed in the power of sport to connect people, energize communities, and tell authentic stories. Partnering with GR8 Tech at SiGMA Central Europe is a natural fit; they’re known as the ‘heavyweight of iGaming,’ and our activations are built around that same spirit of strength, discipline, and drive. Together, we’re creating more than just a stand experience—we’re building a moment that unites delegates through energy, fun, and purpose”, said Lee McFarland.

The activation reinforces GR8 Tech’s Platform for Champions positioning and the elite Heavyweight Club community of operators who are ready to lead, not follow. The company’s boxing-themed booth and partnership with Ready to Fight by Oleksandr Usyk embody the same champion’s mindset: resilience, high performance, and the relentless pursuit of excellence.

“Champions don’t talk about performance—they live it,” said Yevhen Krazhan, CSO at GR8 Tech. “Bringing Behind The Gloves to our booth embodies the discipline and drive we build into our technology. If you want to compete at the highest level, you have to train like it.”

Where Business Meets the Ring

The Behind The Gloves sessions complement GR8 Tech’s showcase of the ULTIM8 Sportsbook and The Heavyweight Rulebook—a collection of Champions’ Rules gathered from iGaming’s top performers. Together, they create an immersive experience where attendees don’t just learn about championship-level technology—they feel first-hand what it takes to be a champion.

Visit GR8 Tech at booth 5028-2, SiGMA Central Europe 2025 in Rome, November 3–6.

The post GR8 Tech Brings Behind The Gloves Boxing Experience to SiGMA Central Europe 2025 appeared first on European Gaming Industry News.