{"id":7559,"date":"2024-11-18T13:52:57","date_gmt":"2024-11-18T13:52:57","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=7559"},"modified":"2024-11-18T13:53:03","modified_gmt":"2024-11-18T13:53:03","slug":"mga-betting-industry-showed-steady-growth-in-2023","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2024\/11\/18\/mga-betting-industry-showed-steady-growth-in-2023\/","title":{"rendered":"MGA: Betting Industry Showed Steady Growth In 2023"},"content":{"rendered":"\n

The Malta Gaming Authority (MGA)<\/strong> has celebrated the performance of the Maltese land-based and online gaming industry in 2023.<\/p>\n\n\n\n

Publishing its annual report and audited accounts to 31 December, the Authority detailed its achievements and also offered a medium-term outlook for the future.<\/p>\n\n\n\n

MGA CEO, Charles Mizzi<\/strong>, commented: \u201cIt is not a coincidence that the theme for the Annual Report is \u2018sustainability\u2019. <\/p>\n\n\n\n

\u201cThe MGA\u2019s 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\u2019s continued success.\u201d<\/p>\n\n\n\n

In 2023, the Authority issued 28 warnings, suspended the Ninth Convention and cancelled 11. In addition, the MGA issued a total of 19 fine decisions and a single-rule settlement, with a total of \u20ac172,900 in fines.<\/p>\n\n\n\n

Meanwhile, 28 AML\/CFT compliance reviews were carried out; 13 of these were carried out by the MGA and 15 by the FIAU<\/strong>.<\/p>\n\n\n\n

During the same period, the FIAU imposed corrective and\/or administrative fines on seven depth licences detected during the measurements carried out in the reporting years, for a total of \u20ac994,000.<\/p>\n\n\n\n

To further comply with the MGA and FIAU AML<\/strong> recommendations, this year’s 38th edition included interviews with UK Money Laundering Review Officers (MLROs)<\/strong>, measuring their competence and understanding of the Malta AML\/CFT framework.<\/p>\n\n\n\n

The results come back as a \u201csolid understanding of key protections\u201d such as risk profiling, KYC verification and awareness of common threats. However, there is still room for improvement when it comes to solutions and specific AML risks.<\/p>\n\n\n\n

In addition, the Maltese government expressed concern in early 2024 about the list of achievements it had managed to note regarding money laundering and terrorist financing vulnerabilities.<\/p>\n\n\n\n

This decoration came in 2021 after Malta was placed under \u201cenhanced monitoring\u201d by MONEYVAL<\/strong> and the Financial Action Task Force (FATF) <\/strong>due to financial risk.<\/p>\n\n\n\n

According to the report, in 2023, the MGA received 24 applications for new gaming licenses and issued 15 applications. A total of 13 applications were rejected or withdrawn.<\/p>\n\n\n\n

The report praised the Authority\u2019s efforts to protect players and promote responsible gaming. Last year, 4,483 players who requested assistance were assisted at all costs (including reconnections from 2022).<\/p>\n\n\n\n

In addition, 72 responsible gaming site reviews were carried out, with 41 letters of observation sent to licensees outlining responsible gaming issues and areas for improvement.<\/p>\n\n\n\n

The Authority is also currently monitoring the financial position of licensees. In 2023, 2,059 player funds were received and 24 player data collections were conducted.<\/p>\n\n\n\n

Notably, the Authority also published its voluntary ESG Code of Practice for the Remote Gaming Sector this year.<\/p>\n\n\n\n

The report also looks at national and international cooperation, with 255 suspicious supply reports received from licensees and other overseas parties during the period.<\/p>\n\n\n\n

The Office works with subsequent agreements, governing sports organisations, integrity bodies and other regulatory bodies to provide 34 enquiries regarding manipulation of sporting events or breaches of compliance rules.<\/p>\n\n\n\n

Don’t forget to subscribe to our Telegram channel<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

The Malta Gaming Authority (MGA) has celebrated the performance of the Maltese land-based and online gaming industry in 2023. Publishing its annual report and audited accounts to 31 December, the Authority detailed its achievements and also offered a medium-term outlook for the future. MGA CEO, Charles Mizzi, commented: \u201cIt is not a coincidence that the […]<\/p>\n","protected":false},"author":7,"featured_media":7560,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[4,1218,1],"tags":[6556,7743,338,10485,10484,10483],"class_list":["post-7559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-betting","category-bookmaker","category-news","tag-charles-mizzi","tag-fiau","tag-mga","tag-mlro","tag-the-malta-gaming-authority","tag-uk-money-laundering-review-officer"],"yoast_head":"\nMGA: Betting Industry Showed Steady Growth In 2023 - SBC EURASIA EN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2024\/11\/18\/mga-betting-industry-showed-steady-growth-in-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MGA: Betting Industry Showed Steady Growth In 2023 - SBC EURASIA EN\" \/>\n<meta property=\"og:description\" content=\"The Malta Gaming Authority (MGA) has celebrated the performance of the Maltese land-based and online gaming industry in 2023. 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