The Malta Gaming Authority (MGA) has released its 2023 Annual Report and Financial Statements, offering an in-depth analysis of the performance of Malta’s gaming industry, both online and land-based, alongside the authority’s key activities, achievements, and strategic direction.
CEO Charles Mizzi stated, “It is not a coincidence that the theme for the Annual Report is ‘sustainability.’ The MGA’s ability to strike the right balance between allowing the industry to thrive and grow in a sustainable manner, while also protecting consumers, is key to Malta’s continued success.”
Throughout 2023, the MGA demonstrated its commitment to maintaining a fair and transparent gaming environment. Key supervisory actions included:
– Conducting 21 compliance audits and 125 desktop reviews.
– Issuing 28 warnings, 9 licence suspensions, and 11 cancellations, along with 19 administrative penalties and one regulatory settlement totaling €172,900.
Anti-money laundering and counter-terrorism financing (AML/CFT) compliance remained a priority, with 28 examinations conducted jointly by the MGA and the Financial Intelligence Analysis Unit (FIAU). This collaboration resulted in penalties totaling €994,000 for seven licensees for violations identified in prior years.
In addition, the MGA processed 24 new gaming licence applications, approving 15 while rejecting or withdrawing 13. The authority also completed nearly 1,200 criminal probity screenings, rejecting 14 applicants who failed to meet the “fit and proper” standards.
National and international cooperation were central to the MGA’s operations in 2023. The authority managed 255 suspicious betting reports and collaborated on 22 sports integrity investigations. It also issued 75 letters of good standing and handled nearly 120 requests for international collaboration, primarily focusing on background checks and regulatory information sharing.
To improve player protection in 2023, the MGA published amendments to the Player Protection Directive, introducing five markers of harm to identify early signs of problematic gambling behaviour. The authority carried out 72 responsible gambling website checks and issued 41 observation letters to operators to improve compliance.
The MGA also received 2,059 player funds reports and conducted 24 player data extractions, underscoring its commitment to safeguarding player funds and ensuring financial transparency.
The year saw the publication of a new Distributed Ledger Technology (DLT) Policy, replacing earlier sandbox guidelines, to streamline the integration of blockchain and virtual assets within the gaming sector. Additionally, the MGA introduced a voluntary ESG Code of Good Practice for remote gaming operators, encouraging sustainable and socially responsible practices.
In 2023, the MGA identified 49 websites that falsely referenced the authority. Notices were issued, and in 23 cases where corrective action was not taken, public warnings were published to protect consumers from fraudulent activities.
The authority also maintained a robust physical presence, conducting 9,575 inspections across gaming establishments, including casinos, bingo halls, and national lottery outlets, ensuring 24/7 compliance monitoring.
The MGA’s commitment to the industry extended to its active participation in SiGMA Europe 2024, held from November 12 to 14 in Marsa, Malta. As a cornerstone event in the global gaming calendar, the conference drew over 27,000 delegates and featured more than 1,000 exhibitors and sponsors.
CEO Charles Mizzi stressed the importance of such platforms, stating, “Events like SiGMA Europe 2024 present invaluable opportunities for us to engage directly with industry stakeholders, reinforcing our commitment towards ensuring the sustainability of the gaming ecosystem.”
Mr. Mizzi also delivered a keynote speech titled “A Future-Ready Industry: Ensuring the Long-Term Sustainability of Malta’s Gaming Sector.” His address focused on balancing innovation with regulation, leveraging ESG principles, and sustaining Malta’s leadership in the global gaming industry.
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