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The MGA publishes its 2022 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 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.”

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Caspar Hobbs CEO of SWA

SWA, Sportradar Collaborate on First-of-its-Kind In-Play MMA Betting Offering

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SWA Ltd, a London-based frontrunner in live data and AI technology for real-time betting prediction systems, today revealed a new collaboration with Sportradar to introduce the industry’s first-ever in-play MMA betting model.
The innovative product is now accessible to Sportradar customers.
Utilizing the official data streams from the UFC and PFL, the updated model will offer extensive in-play markets for significant MMA events, with more promotions planned for integration in the following weeks.
The platform is created to provide hundreds of live betting markets, establishing the basis for an expanded combat sports package to be offered via Sportradar.

“Our science team has developed data driven bottom-up generative ai modelling that outputs tens of thousands of potential outcomes every second, pricing each one in real time.

This enables unlimited micro-parlay and social betting opportunities on the same platforms,” said Caspar Hobbs, CEO of SWA.  “MMA has been one of the fastest-growing sports globally for many years, but its speed and complexity have made it difficult to model for betting. We are delighted to partner with Sportradar on this breakthrough MMA product and look forward to delivering wider combat offerings in the coming weeks, as well as expanding into additional sports.”

The post SWA, Sportradar Collaborate on First-of-its-Kind In-Play MMA Betting Offering appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Burst Games

Step into Royal Drop — Queen Lizzie’s Quest from Mirror Image Gaming

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Are you prepared drop? That’s the dilemma players encounter when they launch Royal Drop, the newest Burst Game from Mirror Image Gaming, driven by FortuneEngine.io.
Royal Drop is a character-focused, high-octane “Burst Game” that aims to dominate online casino lobbies with its captivating and enjoyable gameplay.
Players team up with Queen Lizzie, who is bold, fierce, and fabulously untroubled, as she trades scones and biscuits for a twin-winged plane that drops her into one of the wildest online casino escapades.
Players trail behind Queen Lizzie as she zooms across the sky, flipping and twisting while gathering flags and collecting coins, all while providing witty remarks that expose her etiquette as far more vibrant than anyone could have anticipated.
The flags and coins serve as Prizes and Multipliers, accumulating as Queen Lizzie descends towards landing areas.
There are a total of five, which include:

Royal Palace – 5,000x Jackpot

Underground – 100x Payout Multiplier

Big Ben – 50x Payout Multiplier Royal Guard – Squares the Payout Multiplier

Royal Carriage – 5x Payout Multiplier

Following her is her nervous son and successor to the throne. He worries about their image, particularly Queen Lizzie’s dubious driving skills showcased in the Bus Multiplier feature.
This is activated by the Bus Scatter, which amplifies the ascent to as much as 11x.
Queen Lizzie is courageous and fearless, and she definitely shouldn’t perform her own stunts – yet she does them regardless. That’s the reason you can gain an additional 0.2x whenever Queen Lizzie performs a Flip or a Back Flip.
However, be cautious of the Dangers and particularly the Thunderheads that separate the amassed victory.
Players of the Royal Drop will soon discover that within the Royal Family, there is only one individual with nerves of steel.
Royal Drop features three RTP options – 96%, 94%, and 92% – and is positioned at the mid to high level of the volatility spectrum. The smallest wager is established at 0.10 with an adjustable maximum stake. The highest possible win is 5,000 times.

Gray Wagner, CEO at Mirror Image Gaming, said: “Our Burst Games have taken online casino game lobbies by storm and in Royal Drop we have a title that celebrates the magic and majesty of the royal family while allowing players to unlock regal wins.

“Our Burst Games are incredibly fun and put players on the edge of their seats as they ride out the drop and collect as many prizes as they can on the way down. Of course, where they land determines the ultimate size of the payout.

“The heir to the throne might be shouting “Slow down mommy” but players will be encouraging Queen Lizzie to go faster and scoop up more of those coins and flags as she dials in on the landing zone.”

The post Step into Royal Drop — Queen Lizzie’s Quest from Mirror Image Gaming appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Booming Games

Booming Games upgrades senior management to support aggressive growth strategy

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Booming Games, a top supplier of high-quality gaming content, has today enhanced its C-suite by appointing a new Chief Operating Officer and establishing a new Chief of Staff position. The hires demonstrate Booming Games’ dedication to attracting and developing elite talent, as the company aims for significant growth in the next years and expands its international footprint.
Dan Paleu, who first entered the company as Director of Technical Operations, has been elevated to Chief Operating Officer effective immediately. Before joining Booming Games, Dan worked for 16 years at IGT PlayDigital, formerly iSoftBet, where he held multiple positions, with his latest role being Head of Games. In this role, Dan shaped the company’s overall gaming strategy and managed the production process for new games, from idea to release. He is considered a forward-thinker with an impressive history in the sector.
Dan’s substantial industry experience enables him to enhance Booming Games’ offerings effectively. His attention will center on enhancing operational excellence throughout game delivery, technology, and commercial operations, while guaranteeing regulatory compliance in every market. He will additionally assist in the ongoing growth into new regulated markets, with entries into Switzerland, Bulgaria, and the Czech Republic set for 2026.
In addition, Ramona Petrina has been named Chief of Staff, a newly established role, effective immediately. In November 2022, Ramona became the Director of HR at Booming Games and brings more than 15 years of experience in the industry. Her promotion arrives as the company has definite intentions to strengthen its workforce and attract premier talent to enhance customer experience.
In her new position, Ramona will serve as a strategic ally, aiding in executive planning and decision-making. Her primary emphasis will be to create a distinct set of objectives that align with the broader leadership strategy and assist in implementing essential growth initiatives. In addition, Ramona will keep refining the company’s people strategy, making certain the organization is properly organized and ready for its upcoming growth stage.
Dan and Ramona will attend ICE Barcelona later this month, accompanied by several C-suite peers, to present Booming Games’ new titles and converse about upcoming plans for the year.

Max Niehusen, Founder of Booming Games, said: “We are pleased to announce these two promotions at a key moment in our growth journey. With extensive experience in their fields, Dan and Ramona have already made a significant contribution to the business, providing invaluable expertise. Their promotions reflect our longstanding commitment to retain and nurture top talent, in order to better serve our rapidly expanding customer base.”

Dan Paleu, Chief Operating Officer at Booming Games, said: “After joining Booming Games I quickly understood why the business has an unrivalled reputation in the industry for innovation. The business has set out ambitious growth plans and I am proud to be taking up the position of Chief Operating Officer to help deliver these. I look forward to continuing working closely with Max in the role, providing a market leading experience for our customers and players.”

Ramona Petrina, Chief of Staff at Booming Games, said: “Booming Games has built a powerful foundation, from its product vision and people to its ambition and execution. The scale we’ve achieved is the result of clear direction and strong leadership, and I’m excited to help shape the next phase of the company’s growth as we continue to expand and evolve.”

The post Booming Games upgrades senior management to support aggressive growth strategy appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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