Compliance Updates
Malta passes new gaming act
The Maltese Parliament has given its nod for the third and final reading of the new Malta Gaming Act.
The Act will provide more powers to Malta Gambling Authority (MGA) as the supervisor of all gaming activity in the country. It will monitor compliance and perform enforcement functions to better achieve regulatory objectives and in line with concurrent developments in anti-money laundering and combating the funding of terrorism.
The new Act will segment the role of a Key Official within a licensed entity into various key functions for direct scrutiny and targeted supervision controls.
In addition, the player protection framework will be supported by the formalisation of the MGA’s Player Support Unit which will act as a mediator between aggrieved players and operators.
More effective processes for criminal and administrative justice, consumer protection standards, responsible gambling measures, identification of suspicious sports betting transactions and objective-orientated standards to encourage innovation and development are all covered in the Act.
“The legislation is currently undergoing the Technical Regulation Information System process (TRIS) in line with European Union Directive 2015/1535, whereby the EU Commission and Member States may issue their opinions thereon,” the MGA said.
“In the absence of issues emerging from this process, it shall come into force on 1 July 2018 for remote gaming operators and, following a transitory period, on 1 January 2019 for land-based operators.”
The Parliamentary Secretary for Financial Services, Digital Economy & Innovation, Hon. Silvio Schembri said: “I would like to thank the MGA for moving the regulatory agenda for gaming services forward, as well as for identifying areas for further and continuous improvement.”
“The MGA will periodically review the regulatory performance of the sector and the framework itself and will advise Government on the attainment of its objectives mainly focusing on consumer protection and integrity.”
The MGA’s Chief Executive Officer, Heathcliff Farrugia added: “This is a very important milestone for the MGA. The new law establishes very robust compliance and enforcement powers and structures, and lays the necessary foundation to continue to strengthen player protection.”
Compliance Updates
Acquiring a Curacao Online Gaming License in 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed
The “Acquiring a Curacao Online Gaming License, 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed” report has been added to ResearchAndMarkets.com’s offering.
This report includes valuable insights into the financial and procedural aspects, including detailed information on costs and timelines associated with acquiring a Curacao license.
In 2023, Curacao introduced the “Landsverordening op de kansspelen” (Ordinance on Games of Chance) to modernize and regulate gambling legislation. Since March 2020, the Gambling Control Board (GCB) has been authorized to regulate offshore gambling games and oversee the issuance of Curacao licenses. As of 2023, there are 16 companies providing legal services for registration and licensing in the territory of Curacao. The license fee, as per GCB regulations, is 36,000 ANG or 19,800 USD, payable upon license issuance.
Research Timeline and Data Relevance
The research was conducted in two stages. The first stage, studying the regulator and Open Data Search, took place in December 2023. The second stage, writing the report and partially updating the data from the first stage, took place from the end of April to the end of May 2024.
Goals and Objectives
- Describe the information about the Curacao license and the issuing regulator.
- Describe the requirements and conditions for obtaining a Curacao license.
- Describe the costs and timelines for obtaining a Curacao license.
- Briefly study the market, find and suggest the following lists:
- Legal companies offering services for company registration and obtaining a Curacao license;
- Communication agents and integrators working with the Curacao license;
- Suppliers and vendors working with the Curacao license;
- Payment systems working with the Curacao license.
Key Topics Covered:
1. Goals and Objectives
2. Research Timeline and Data Relevance
- Document Markup
- Raw and Combined Data
- Terms & Glossary
3. General Information
- The Regulator
- Registration of Operators With Sublicense
- Application for an Online Gaming License
4. Requirements and Conditions for Obtaining a License
License Conditions
- General Prohibitions
- Safe and Secure Environment
- Equipment and Application Software
- Player Registration
- Payment Transactions
- Games
- Terms of Use
- Resolution of Complaints
- Administrative Responsibilities
- Publicly Available Information
- Reports
- Policies and Procedures
- Suspension and Revocation of License
- Additional Conditions
- Supervision
Recommendations or Minimum Requirements for the Business Plan
5. The Cost of the License
6. Decision Term and the Validity of the License
7. Application Method and Forms
8. Contact Information
9. Companies for Registration and Licensing
10. Integration Companies
11. Suppliers and Vendors
12. Payment Systems
13. META
14. Appendix: Terms & Glossary
For more information about this report visit researchandmarkets.com/r/izeo6g
Compliance Updates
Digitain Obtained Greek License
Digitain obtained the A1 Manufacturer’s License from the Hellenic Gaming Commission.
Digitain, a global leader in Sportsbook and iGaming solutions, has expanded its presence in European regulated market by obtaining a B2B license from the Hellenic Gaming Commission.
Iain Hutchison, Chief Revenue Officer of Digitain, said: “We are delighted that we have attained our B2B license from the Hellenic Gaming Commission. Digitain continues to expand across multiple regulated jurisdictions, and the Greek license is a further example of our vision and that of our teams’ commitment to regulatory compliance and the exemplary standards of our platform technology and focus as a company. We look forward to having our award-winning sportsbook and Centrivo platform and much more available within the Greek market as one of continental Europe’s largest and growing regulated markets.”
Compliance Updates
Hard Rock Casino NL turns to BetComply for Netherlands launch
BetComply, iGaming’s most trusted technical and regulatory compliance firm, has partnered with iCasino, securing a Dutch licence for their recently-launched Hard Rock Casino brand.
HardRockCasino.nl operated by iCasino b.v. under a brand licence agreement announced its Netherlands launch at the start of July, having worked closely with BetComply to secure a licence from the Dutch regulator de Kansspelautoriteit (KSA) in May.
The brand will continue to work with BetComply to ensure on-going compliance within the Netherlands framework.
iCasino CEO Paul Strikers said: “It’s hugely exciting to bring such a globally renowned brand to the Dutch market for the first time. We understood early on in the process that operator compliance needed to be one of our highest priorities, and that’s why we enlisted the help of BetComply and its unparalleled expertise in the Netherlands. We thank Mike and the team for their tireless and rigorous support on our successful licence application, and look forward to building upon this partnership in the future; the first step being the application for a sports betting licence.”
BetComply Chief Compliance Officer Mike de Graaff added: “The Netherlands market has attracted some huge international brands over recent months, underlining the opportunities on offer for those who build a deep understanding of their regulatory obligations. We’ve already helped more than a third of all licence holders in the country, and with the KSA taking a proactive approach across all elements of regulation, we’ll continue to support our partners, including iCasino, as market conditions evolve.”
With recent high-profile reports of serious misconduct within the iGaming compliance space, it has never been more important to pick a trusted and reliable partner, both in the Netherlands and elsewhere.
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