Malta To Consolidate Gaming Laws
by Amanda Banks, Lowtax.net, London
20 March, 2018
Malta is to table a new Gaming Bill in parliament, according to Malta's Parliamentary Secretary for Financial Services, Digital Economy, and Innovation, Silvio Schembri.
The Bill would replace all existing legislation with one law, together with secondary legislation covering the main thrusts of gaming regulation. Technical directives and guidelines are also the subject of a consultation by the Malta Gaming Authority (MGA). These will be published ahead of implementation and will be implemented simultaneously with the new law.
"This Bill marks a significant step in streamlining and encompassing the governance of all gaming services offered in and from Malta and across all channels under the competence of the MGA," said Schembri, adding that: "The Government wants to ensure that the gaming industry continues to be run responsibly, fairly, and free from criminal activity, so that we provide a safe and enjoyable leisure activity to the public generally, which is also an important source of revenue and jobs."
Schembri said the Bill is intended to give the MGA the necessary latitude, resources, and powers to effectively regulate the gaming industry and protect consumers as required, focusing on evidence-based methodologies.
"We hope to remove any red tape by increasing efficiency and flexibility for the regulator, whilst improving the robustness of the current framework and focusing regulation on outcomes," said Schembri.
The new legal framework is forecast to grow the island's gaming industry by a further four percent over and above its present double-digit growth rate.
See all of today's news