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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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BetConstruct Secures Prestigious Best Online Sportsbook Provider Award at SiGMA Africa 2024

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BetConstruct, a leading force in the online gaming industry, has been awarded the Best Online Sportsbook Provider at the SiGMA Africa Awards 2024. This recognition is a testament to BetConstruct’s commitment to delivering unparalleled sports betting experiences.

The SiGMA Africa Awards 2024 brings together industry leaders and pioneers, recognising those who push the boundaries and contribute significantly to the sector’s advancement.

BetConstruct is transforming the online gaming industry with a focus on customer-centric solutions and consistent excellence. Boasting a wide-ranging portfolio of sports betting and gaming products, BetConstruct is recognised as an essential partner in the global market, dedicated to enhancing both user experience and partner satisfaction. The Best Online Sportsbook Provider award celebrates not just the company’s historical achievements but also its ambitious future endeavours.

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BETSSON.SPORT DEBUTS IN ITALY WITH FRANCESCO TOTTI AS AMBASSADOR

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Betsson.sport proudly announces the launch of its new sports infotainment platform in Italy. At the heart of this initiative as its ambassador, stands Francesco Totti, the revered Italian football legend celebrated for his exceptional talent and illustrious career.

With a focus on delivering exclusive content, interviews, news and highlights across various sporting disciplines, Betsson.sport aims to become a go-to destination for sports enthusiasts nationwide.

Additionally, Betsson.sport introduces the initiative ‘Betsson Sport Club,’ inviting teams to join and gain visibility and support alongside other participating teams. This club is open to clubs from both prominent and lesser-known leagues, offering them exposure opportunities and a platform for more visibility.

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“I am thrilled to be part of this project, which aligns perfectly with my daily commitment to sharing my passion for sports,” said Francesco Totti. “Betsson.sport presents a wonderful opportunity to unite various sports clubs and helping them to realise their full potential.”

Ronni Hartvig, Chief Commercial Officer of Betsson Group, stated, “Italy holds significant importance for Betsson, and we are delighted to partner with Francesco Totti, a figure synonymous with excellence in Italian football. We think his story and experiences will help us make the Betsson Sports Club even better, promoting our values of fair play, inclusion, and passion.”

As Betsson.sport embarks on its journey in Italy, the brand is committed to innovation and collaboration. The recent partnership announcement with Roma exemplifies this commitment, marking the beginning of a series of dynamic initiatives aimed at strengthening the bond between sports and Betsson.sport.

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UltraPlay and REEVO: Set to Revolutionize iGaming

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In a move that’s set to shake up the online gaming world, UltraPlay, a leader in digital gaming platforms known for everything from Esports to casino games, has teamed up with REEVO, the innovative force in B2B gaming content and aggregation. This collaboration is all about bringing something new and exciting to gamers everywhere, combining UltraPlay’s broad offerings with REEVO’s unique games and partnerships.

This partnership is rolling out some thrilling games for UltraPlay users, like “Crazy Crocs,” a journey through the swampy fun, “Miceketeers: The Cheese Guardian,” where bravery meets cheese, and the mystical allure of “Rays Of Ra.” These games are designed to captivate a wide array of gamers, promising to bring stories and challenges that spark joy and excitement.

UltraPlay has made a name for itself by pushing the boundaries with the latest technology and focusing on what users are looking for in a platform. The company provides powerful solutions that reach across the globe, helping to lift the gaming industry to new heights.

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REEVO, on the other hand, is on a mission to impress and innovate, planning to roll out two new games every month in 2024. They’re also making their game aggregation platform even smoother, making it easier to bring in top-notch games from all over. This partnership isn’t just about making new games; it’s about making the gaming experience better for everyone involved.

Petra Maria Poola, REEVO’s Head of Sales, shared her thoughts on the partnership: “Thrilled to announce a new partnership with UltraPlay. This strategic alliance opens up incredible opportunities for growth and enables us to take our partners’ brands to unprecedented heights with new content. With an unwavering commitment to excellence, we aim to deliver an unparalleled gaming experience for our partners that fosters sustainable, long-term success. Stay tuned as we embark on this transformative journey together.”

Mario Ovcharov, CEO of UltraPlay, is equally enthusiastic: “We’re thrilled to be working with REEVO. It’s a chance for us to blend our gaming know-how with their tech magic. We’re all about creating amazing gaming experiences, and this partnership is going to help us do just that. We can’t wait to see where this will take us.”

As UltraPlay and REEVO set off on this journey together, the gaming community is in for a treat. This collaboration promises to bring forward a new era of gaming innovation and fun, showcasing what’s possible when two leaders in the gaming world join forces.

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