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MGA Publishes its 2017 Annual Report and Financial Statements

George Miller

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MGA Publishes its 2017 Annual Report and Financial Statements
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The Malta Gaming Authority (MGA) has published its Annual Report and Financial Statements for the financial year ending 31 December 2017 (found here). The report provides an overview of the activities and work performed throughout the year by the MGA which mainly focused on the finalisation of the new Gaming Act, coming into force in 2018, and on the enhancement of its compliance systems, including the implementation of the requirements of the EU 4th Anti-Money Laundering Directive.

Throughout 2017, the MGA also focused on enhancing its IT systems, as reflected in the introduction of the Licensee Relationship Management System (LRMS), a secure and dedicated portal featuring a one-stop shop for licensing and reporting and a new communication channel.

The Annual Report also looks at 2018 and beyond, whereby the MGA will be focusing on the implementation of the new regulatory framework, the transition towards a risk-based approach to regulation, the continued implementation of onerous AML (Anti-Money Laundering)/ CFT (Combating the Financing of Terrorism) obligations, and the application of the General Data Protection Regulation, and its impact on operators and the MGA alike.

The following are the key highlights from the Annual Report:

  • During the year under review, the MGA generated a total revenue of €66.3m in licence fees, gaming tax and other administrative fees and fines, compared to €62.5m in 2016. This represents an increase of €3.7m or a 6% year-on-year increase;
  • The direct contribution of the gaming industry to the Maltese economy was valued at €1.1 billion in 2017, with approximately 9,800 full time jobs created within operators directly in the sector and other associated businesses;
  • In January of the same year, the MGA launched a licensing and regulatory regime based on the Skill Games Regulations for the online skill games sector, including the creation of a specific B2C and B2B licences for ‘controlled skill games’;
  • It also conducted a thorough study to assess the application of Distributed Ledger Technology (DLT) and the use of cryptocurrencies in a sandbox environment, with the objective of issuing a consultation paper and subsequently, guidelines, in 2018;
  • As highlighted above, the MGA kept investing in its IT systems, most notably on the introduction of a New Licensee Relationship Management System accessible through a secure and dedicated web portal. This system has changed the way the MGA interacts with its existent and prospective licensees through the digitisation of regulatory and licensing processes;
  • In 2017, the MGA further enhanced its AML/CFT supervisory mechanisms, including the implementation of the EU 4th Anti-Money Laundering Directive. This involved cooperation with the Financial Intelligence Analysis Unit (FIAU) to develop supervisory practices and procedures, sector-specific guidelines, and joint supervision;
  • MGA’s most important achievement was the finalisation of the new Gaming Act which was tabled in Parliament earlier this year. The new law is set to overhaul completely the way the Authority regulates the sector, once it comes into force in 2018.

In publishing this report, Heathcliff Farrugia, Chief Executive Officer of the Malta Gaming Authority, stated that: “Last year was perhaps one of the most exciting years for the MGA. The ongoing efforts and relentless work of MGA officials on the various projects the Authority embarked upon was reaching its final stages, with the new regulatory framework and the 4AMLD being the most notable ones.

Their introduction in 2018, coupled with the investment in IT systems shall continue to elevate our regulatory standards, by strengthening our controls and empowering the Authority to adopt a risk based approach towards enforcement and supervision.”

Whoever wishes to receive hard copies of the Annual Report may send an email to info.mga@mga.org.mt

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Golden Race at SiGMA 2018

George Miller

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Golden Race at SiGMA 2018
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Golden Race will be attending SiGMA 2018 – the largest iGaming expo in Malta bringing together affiliates, operators, B2B Solution providers and Regulators over 3 days. This year, the event will welcome over 400 sponsors and exhibitors, 200 industry-leading speakers and more than 12500 attendees from over 80 countries.

SiGMA expo 2018

Discover Golden Race’s proposal:
At SiGMA 2018, we will be exhibiting all Golden Race’s products which are the most innovative, reliable, flexible and profitable solutions in the market. In addition, we will be showing be our new complete portfolio of virtual sports and number games. Also, we have made important upgrades to our platform both for desktop and mobile. Now it’s more intuitive, more user friendly and with more customisation options!
Don’t miss the opportunity to learn about our company’s latest improvements and releases.

Stop by Golden Race stand!

The industry-leading betting solutions provider, Golden Race, will be attending the 5th edition of SiGMA that will take place between the 28th and 30th of November at the Malta Fairs and Conventions Centre (MFCC) in Ta’Qali.
Should you be there, don’t miss a chance to drop by Golden Race’s stand S178 and discover the novelties first hand.

 

Golden Race is a young, dynamic company born in the field of sports betting in 2006 with the successful launch of dog racing and over 8,000 licenses sold. From this extremely successful first product launch, Golden Race invested in developing many new products based on virtual betting events. Golden Race headquarters are now based in Malta, with two additional support and development centres in Spain.

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BOSS. Gaming solutions are visiting SiGMA 2018

George Miller

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BOSS. Gaming solutions are visiting SiGMA 2018
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On November 28, the fifth edition of SiGMA – the world’s leading iGaming summit – will take place at the Malta Fairs and Conventions Centre in Ta’ Qali. The event will gather around 400 exhibitors and sponsors from 80 countries of the world.

BOSS. Gaming solutions will be on the list of 12,500 visitors of SiGMA. The company will present their products and solutions to 400 sponsors and exhibitors, 2,500 affiliates and 200 speakers.

We’ll bring our best achievements in iGaming industry,” says Catalina Lukianenko, COO from BOSS. Gaming. “We are excited to share the results of our long-standing work to those attending this important iGaming summit in Malta.”

BOSS. Gaming will exhibit our core products, such as the BOSS. Platform, SIMPLE BET, and AGames, as well as White label and Full turn-key solutions.

Join us at the stand № S57!

 

About BOSS. Gaming solutions

BOSS. is an independent software developer and provider of online and land-based gaming solutions. BOSS. develops gaming platform, sportsbook and betting services, land-based casino software, affiliate system, payment solutions, own online casino slots and White label solution.

BOSS. Gaming provides consulting services and helps to get a license, develop strategies, manage purchased online casinos, offers technical and operational support and assists clients with getting business results.

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Mediterranean Europe

Pragmatic Play To Take SIGMA By Storm

George Miller

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Pragmatic Play To Take SIGMA By Storm
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Ancient Egypt Classic to be showcased at provider’s platinum stand P154

 

Pragmatic Play, top provider for video slots and live casino, is set to showcase its full range of award-winning products with its biggest ever presence at this year’s SiGMA exhibition.

Pragmatic Play will be hosting the show’s largest exhibition space at Stand P154, while also powering the official closing party set to welcome over 2,500 guests and provide ample networking opportunities.

Staff from across the business will be on hand to guide delegates through its entire suite of products, including video slots and a comprehensive range of live casino games following its acquisition of Extreme Live Gaming from Novomatic Group.

Debuting the latest release Ancient Egypt Classic, Stand P154 will also host a slot tournament, featuring top prizes including an iPhone XS Max and a GoPro Hero7 camera.

Melissa Summerfield, Chief Commercial Officer at Pragmatic Play, said: “SiGMA provides us with the ideal opportunity to underline the quality and innovation we bring to the gaming industry, with a rapidly expanding product range and global reach in regulated markets.

“We are especially proud to be powering the official after-party, and look forward to an engaging show packed with networking and new business opportunities.”

Pragmatic Play has enjoyed a stellar 2018, agreeing commercial deals with a series of top-tier operators including PokerStars and ComeOn, while enhancing a mobile-focused product portfolio that includes the award-winning Wolf Gold.

 

About Pragmatic Play:

Pragmatic Play is a leading multi-product content provider to the iGaming industry, offering innovative, regulated and mobile-focused gaming products. Our passion for premium entertainment is unrivalled.

We strive to create the most engaging, evocative experiences for all our customers across a range of verticals, including slots, live casino, bingo and other games.

Pragmatic Play’s Games Library contains unique in-house content consisting of over 100 proven HTML5 games, available in many currencies, 26 languages and all major certified markets. Our games generate a great deal of success for our clients and vast enjoyment for players in regulated markets globally.

For more information please visit http://pragmaticplay.com/

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