Malta Gambling Authority has tightened the rules for issuing online casino licenses
Malta Gaming Authority (Malta Gaming Authority) has announced stricter requirements for the operation of gambling companies. The Commission introduced new rules for licensing small online casinos.
The key change was the reduction of the maximum income bar by which the companies are classified as start-ups. Now under this definition are firms with revenues of less than 10 million euros over 36 months. Previously, companies that earned the same amount in just 12 months were considered startups.
“This amendment aims at ensuring that companies that position themselves as start-ups really are start-ups. While making sure that they don’t harm corporate groups that have been in business for many years,” commented an MGA spokesperson on the new rule.
Under the current rules, companies recognized as start-ups are exempt from paying a number of fees, the total amount of which can be between 15,000 and 600,000 euros. Thus, the regulator has set an additional financial restriction for new licensees. For regular gamblers, this means that online casino operators will be subjected to even stricter inspections, which will have a positive impact on the reputation of sites with a Maltese license. The changes will take effect in January 2020.
