The independent regulatory body responsible for the governance of both the retail and online gaming activities in Malta – the Malta Gaming Authority (MGA) – revealed that it has received an operating license application from the UK-based gambling operator Sky Betting & Gaming. The company has applied for a sports betting license.
Established back in 2001, Sky Betting & Gaming has grown to become one of the leading gaming operators. Currently, the company offers a variety of gaming and betting options distributed through five major online products, including Casino, Poker, Bet, Vegas and Bingo.
The Executive Chairman of the Malta Gaming Authority Joseph Cuschieri commented on the received license application, saying that it was a great honour for the regulator’s team to be reached by such a prestigious brand such as Skybet. According to Mr. Cuschieri, the fact that MGA-issued licenses were attractive for leading brands on both the land-based and online arena, was encouraging for the reputation of Malta’s watchdog, as this helped it established as internationally-recognised gaming jurisdiction.
MGA’s Executive Chairman also explained that the regulatory authority remained focused on adequately meeting the needs of the constantly evolving gaming industry in terms of customer protection, transparency, fairness and integrity. He once again highlighted the fact that a world-recognised brand as Skybet had applied for a license, saying that came as another testimony of Malta Gaming Authority’s impeccable reputation and encouraged them to remain focused on keeping their high standards in governance, innovation and gaming regulation leadership.
Apart from making the announcement for the Sky Betting & Gaming’s license application, the Malta Gaming Authority also published regulatory data for the period from January to April 2017. As revealed by the MGA, over the first four months of the year there was a 79% increase in the number of the license applications filed to the MGA, as well as a 33% increase of the licenses issued in comparison to the same period a year earlier. In addition, there was also an increase registered in the enforcement activity compared to the once registered over the last three years.
According to the officials of the MGA, the attractiveness of Malta as a global hub where a lot of remote gambling operators are established as well as the regulatory principles of the MGA prove the integrity of the country as a major gambling jurisdiction. Also, the increase in the number of issued gaming operating licenses showed that the compliance and enforcement activities of the Malta Gaming Authority over the last couple of years have been made more precise thanks to the enhanced supervision, monitoring and control of the activities carried out by the gambling operators within the country.
As revealed by the MGA, the figures presented yesterday did not include the watchdog’s refusals to renew expired licenses. The reported increase in applications and licenses issued was based on the traditional gaming products’ increase and the recently introduced fantasy sports which led to the establishment of the so-called Skill Games Regulations.
The gambling regulatory authority has imposed five more administrative fines on operators in comparison to the prior-year period, while the number of terminated and cancelled licenses has declined. So far in 2017, there has been only one suspended license of a gambling operator.
- Author
Daniel Williams
