The Malta Gaming Authority Will Be Updating Regulations
The regulatory landscape in the nation of Malta is set to change once again. Last week, the Maltese Parliament decided to give the go-ahead to a third and final readthrough of the new Gaming Act. This updated legislation has a primary purpose of updating the power of government through its regulations, making Malta even more attractive of a jurisdiction for prospective online casino operators.
The new Gaming Act, once implemented, will be giving an enhanced role to the Malta Gaming Authority in how it can supervise gambling providers. This particular piece of improved legislation specifically focuses on how the Malta Gaming Authority can ensure compliance and enforce regulations. In the past, the country of Malta has had multiple issues with money-laundering activities and the funding of terrorist cells through certain gambling operations. The Gaming Act’s revision targets these practices and will give the Malta Gaming Authority more power to fight against them.
Points in the Gaming Act include expanding the reach of the Malta Gaming Authority, a move which has mixed reactions from professionals in the gambling industry. The oversight of the Authority will be strengthened and give the government’s regulatory agency the power to intervene in gambling-related matters when necessary. Legislation will also open the door for the appointing of a Key Official. The Official would have a singular purpose of monitoring and supervising online casinos and land-based casinos. In addition, the Player Support Unit within the Malta Gaming Authority will be formally recognized. The Player Support Unit assists with resolving disputes between players and casino gaming providers.
Heathcliff Farrugia is the CEO of the Malta Gaming Authority and praises the updated legislation as an important move by the Maltese Parliament. Farrugia adds that the Gaming Act will lead to rollouts of powers regarding enforcement and compliance. The updated Act is expected to go into effect on the 1st of July, 2018 specifically for operators of online casinos. However, it still needs to pass through the Technical Regulation Information (TRIS) process to ensure that it complies with a directive from the European Union. Land-based venues will be subject to the new regulations on January 1st of the new year.
More legislation that complements the original Gaming Act is expected to be unveiled soon. However, it will need to go through the TRIS process just like the Gaming Act. The Malta Gaming Authority won’t be surprising online casino operators with new rules. The agency has already stated that it has opened up lines of communication and cooperation. These efforts are to ensure that the transition process goes smoothly as the country moves over to new legislation. Guidelines from the Malta Gaming Authority are expected to be released so that gambling operators can understand how to adhere to new regulations.
The Malta Gaming Authority was created as a single regulatory body to help fuse the protection of player with the needs of gambling providers. This agency handles the licensing and regulation of numerous online casinos that operate on an international level. The knowledge and experience behind the Authority combined with access to cutting-edge technological services makes the agency a world-class choice.