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The MGA publishes its 2022 Annual Report and Financial Statements
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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BC Engine
BC.Game’s new CEO Kar Kheng Giam on strategy, structure and growth
Following his appointment as CEO of BC.Game in March, Kar Kheng Giam (KK) speaks about the strategic priorities shaping the company’s next phase, from strengthening operational foundations to navigating the evolving role of crypto within regulated gaming markets.
You’ve stepped into the CEO role at a pivotal time for the industry. How do you assess the current position of BC.Game?
BC.Game enters this stage from a position of strength in terms of product, user engagement and global reach.
At the same time, the broader industry is evolving. Expectations around governance, regulatory alignment and operational maturity are increasing, particularly for businesses operating across multiple jurisdictions.
So while the foundation is strong, there is a clear opportunity to further strengthen the structure of the business to support long-term, sustainable growth.
That foundation is reflected in the scale of the business today, with more than 9 million registered users and over 500,000 monthly active players, and in the progress we’ve made across licensed markets such as Anjouan, Kenya, Nigeria and Mexico.
How would you define the strategic focus for BC.Game over the next 12 to 24 months?
It comes down to three interconnected areas. First, reinforcing the operational and governance framework of the business, ensuring we are well aligned with the expectations of more established regulatory environments.
Second, continuing to invest in the product – not just in terms of content, but in the overall user experience and platform reliability.
And third, taking a disciplined approach to market expansion, focusing on jurisdictions where we can build a sustainable and compliant presence.
It’s about evolving the business in a structured and deliberate way.
You’ve highlighted governance and structure. What does that mean in practical terms?
It means putting in place the systems, processes and organisational clarity needed to operate at scale.
As companies grow internationally, complexity increases – across regulation, payments, technology and operations. Strengthening governance is about ensuring those elements are well coordinated and consistently managed.
This is not about changing what BC.Game is, but about building the framework that allows it to grow more effectively.
Why has trust become so important at this stage?
At BC.GAME’s scale, trust is no longer just about brand but increasingly becomes a business issue – it affects retention, partnerships, market entry and long-term growth.
And trust is built in very practical ways. People judge a platform by whether the rules are clear, whether communication is smooth, and whether issues actually get resolved. That’s why growth on its own is no longer enough.
Where is the most immediate trust pressure on BC.GAME showing up today?
The pressure shows up most clearly in user experience and issue handling because that’s where people feel it first.
Some of the feedback does point to response times and cases where issues stay in the same entry point for too long. When that happens often enough, it becomes bigger than a service issue, it starts to shape trust.
What changes is BC.GAME putting in place in response to these issues?
We’ve already started making changes. That includes upgrading how user issues are handled, bringing cross-functional teams in earlier, and improving how issues are identified and coordinated internally.
As the business has grown, relying too heavily on a single customer support entry point is no longer enough. The focus now is to make issue handling clearer, more stable, and better suited to the scale of the platform.
What role does organisational development play in this next phase?
As the business grows, it’s important to ensure that the organisation evolves alongside it. That includes strengthening leadership structures, clarifying roles and responsibilities, and building capabilities in key areas such as compliance and market operations.
Ultimately, strategy is only as effective as the organisation delivering it.
From a leadership perspective, how do you approach guiding a globally distributed business?
In a global organisation, alignment is critical – everyone needs to understand the strategic direction and how their role contributes to it. At the same time, there needs to be flexibility to adapt to local market dynamics.
My role is to create that balance – providing clear direction while enabling teams to execute effectively within their markets.
Finally, what does success look like for BC.Game over the next few years?
Success is about building a more structured, resilient and trusted business.
That means strengthening our position in regulated markets, continuing to evolve the product, and ensuring the organisation is equipped to operate at scale. This current period is a crucial one for us as we introduce multiple product rollouts at BC.GAME, with several key updates scheduled to go live. These include BC Engine, along with a broader upgrade to the bonus system and, of course, the World Cup.
If we can achieve that through consistent, incremental progress, then we will be well positioned for the long term.
The post BC.Game’s new CEO Kar Kheng Giam on strategy, structure and growth appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Belgrade Future Gaming 2026
NOVOMATIC to Showcase Strong Portfolio and Regional Highlights at Belgrade Future Gaming 2026
NOVOMATIC is going to participate in Belgrade Future Gaming 2026 on May 26-27. At the event, the company will showcase a powerful and regionally tailored portfolio, underlining its strong market position and long-standing commitment to Southeast Europe. Visitors to the NOVOMATIC booth can expect a carefully curated mix of high-performing linked progressive solutions, advanced game content and premium cabinet experiences – all designed to meet the specific preferences of the Balkan market.
A key highlight of this year’s showcase is the Impera Line HD Edition 10 – Balkan Special, specifically developed to address regional player demands with a customised selection of popular game content. The presentation is further strengthened by Impera PROLINK 2, delivering engaging linked progressive gameplay and multi-feature performance on international casino floors.
NOVOMATIC’s internationally successful linked progressive portfolio will be prominently featured with multiple entries from the XTENSION LINK series, including Volumes 2, 3, 4 and 5, as well as XTENSION LINK Ultimate, offering a broad range of game styles and mechanics that continue to resonate strongly with players worldwide.
Another major attraction is VISION LINK, NOVOMATIC’s latest multi-feature linked progressive concept, combining modern gameplay design, five-pot mechanics and the popular LOCK&SPIN feature to create an engaging and scalable player experience.
The showcase is complemented by the GAMINATOR X5, a proven performer known for its strong game mix and versatile customization options, allowing operators to configure tailored package setups aligned with local player preferences.
Taking center stage is the DIAMOND X QUATTRO 1.55J, NOVOMATIC’s flagship cabinet and winner of the “Best Slot Machine” category at the prestigious European Casino Awards 2026. Combining a striking 55-inch J-curved UHD display with a refined glass touch deck and premium sound experience, the DIAMOND X QUATTRO 1.55J delivers exceptional visual impact and immersive gameplay, making it a standout centerpiece on any gaming floor.
NOVOMATIC will also present a premium setup of V.I.P. X cabinets, including the V.I.P. X Royal 1.85 and the award-winning V.I.P. X Galaxy 2.65 cabinet, paired with top-performing content and demonstrating high-end gaming solutions for modern casino environments.
“With our presence at Belgrade Future Gaming, we are reaffirming NOVOMATIC’s strong commitment to Southeast Europe. Our portfolio combines proven international performance with tailored regional content. From advanced linked progressive solutions such as VISION LINK and the XTENSION LINK series to customized offerings like the Impera Line HD Edition 10 – Balkan Special, we are delivering solutions that meet the specific expectations of our partners and players in this region,” said Miloš Pejić, Regional Manager SEE at NOVOMATIC.
The post NOVOMATIC to Showcase Strong Portfolio and Regional Highlights at Belgrade Future Gaming 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Daniel Cuc
REEVO Announces New Partnership with Tuko Productions
REEVO has announced a new partnership with Tuko Productions, a well-established Italian game development studio and content provider. This collaboration further strengthens REEVO’s aggregation ecosystem, expanding its offering with a portfolio of proven, performance-driven titles developed for one of Europe’s most competitive regulated markets.
Through this partnership, Tuko’s extensive catalogue is now available on the REEVO aggregation platform, giving operators seamless access to a wide range of video slots, table games and instant games through a single, efficient integration. The addition of Tuko reinforces REEVO’s commitment to delivering high-quality content that performs across regulated environments.
For REEVO, this partnership represents another important step in building a high-performance aggregation platform that combines innovation with reliability.
Daniel Cuc, Head of Account Management at REEVO, said: “Partnering with Tuko is a strong step forward for REEVO as we continue to expand our aggregation platform with proven and high-performing content. Tuko brings a catalogue that has already demonstrated its strength in one of the most competitive regulated markets in Europe, which adds real value to our ecosystem. At REEVO, we are focused on delivering content that performs and supports operators in achieving strong results, and this partnership reinforces that commitment.”
Tuko’s portfolio reflects years of collaboration with leading operators in the Italian market, resulting in games that deliver consistent engagement and performance across a wide range of player preferences. By joining the REEVO platform, Tuko gains access to a broader international distribution network while contributing to REEVO’s growing content ecosystem.
Vincenzo Tancredi, Head of Sales at Tuko, said: “Our catalogue has been built alongside the most important operators in the Italian regulated market, and that experience is reflected in every title we deliver. Through REEVO’s aggregation platform, we are able to extend the reach of our content and bring a proven portfolio to a wider network of operators.”
The post REEVO Announces New Partnership with Tuko Productions appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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