The Maltese Parliament has approved the third and final reading of the new Malta Gambling Act.
The Act reinforces the Malta Gambling Authority’s (MGA) supervisory job, specifically law and compliance serves to achieve regulatory goals and in line with concurrent developments in anti-money laundering and combating the financing of terrorism.
The new Act will section the function of a Key Official within a licensed entity into different important functions for direct examination and targeted supervision controllers.
In addition the player defense framework will be encouraged from the formalisation of the MGA’s Player Support Unit which will function as a mediator between aggrieved players and operators.
More effective procedures for criminal and administrative justice, consumer protection standards, responsible gambling measures, identification of questionable sports betting transactions and objective-orientated standards to encourage development and innovation are 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 can issue their opinions thereon,” the MGA said.
“In the lack of issues emerging from this process, it will 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 want to thank the MGA for moving the regulatory schedule for gaming services ahead, as well as for identifying areas for further and continuous improvement.
“The MGA will periodically review the regulatory performance of the industry and the framework itself and will advise Government on the attainment of its aims mainly focusing on customer protection and ethics. “
The new law builds very robust compliance and enforcement powers and structures, and lays the essential foundation to continue to fortify player protection. ”
RACING POST COMPLETES ACQUISITION OF MAJORITY STAKE IN APSLEY GROUP
Digital sports betting and app companies.
The Racing Post has completed the purchase of a majority stake in Apsley Group International diversifying its interests beyond racing and in the electronic sports betting and app sectors through Apsley-owned and functioned FreeSuperTips and My Racing consequences properties.
As Racing Post and Apsley strategy to combine their respective strengths, no immediate operational changes will take place. James Prosser and Jake Apperley will continue to run Apsley on an everyday basis, with the main workplace continuing in Bristol.
Alan Byrne, Racing Post’s CEO and Editor-in-Chief, said, “We are really excited to be joining forces with Apsley. What they have achieved with their electronic products has been quite impressive and the company is still growing strongly. Providing more sports betting content digitally is a key part of our strategy. ”
James Prosser and Jake Apperley, from Apsley Group International, included, “We are thrilled to have the chance to utilize Racing Post. Their strong brand recognition, wealth of expertise and advanced technology will help us to boost our company and continue our growth. ”