“To reduce the impact of the pandemic, new markets were introduced”, explained Malta Gaming Authority (MGA)’s CEO Carl Brincat on Friday.
At MGA’s interim performance report the authority also stated that in the period January to June 2020, it issued nine fines to various companies for a collective value of €2.43 million.
Aside from the fines, the authority acted against 11 advert and promotions deemed to be exploiting the COVID pandemic, suspended two licenses, cancelled seven (including that of European Fantasy League Ltd), and issued 11 warnings.
These figures, according to the Ministry for the Economy and Industry, “show that the authority stepped up its enforcement measures” during the period.
Mr Brincat emphasised the importance of such measures, commenting that “by regulating, enforcing, and educating the industry, the authority continues to reduce the risk of gaming-related money-laundering and the financing of terrorism.”
In attendance at the event, economy minister Silvio Schembri remarked that in 2020, the MGA sought to further enhance its operations by enhancing data-sharing agreements with relevant stakeholders whose functions include the detection of suspicious betting activities.
Furthermore, he believes, “the regulatory work being [carried out] by the Malta Gaming Authority is in line with the Government’s efforts to strengthen Malta [and place it] amongst the best jurisdictions in the world for gaming companies and to continue protecting business in this sector.”
The Government “shall pursue [its] work in implementing the recommendations [and] enhancing existing ones, which are demonstrating concretely the work done by our institutions”, he said.
DOI/ Jason Borg