Malta Gaming Authority tightens rules for issuing online casino licenses
Malta Gaming Authority announces tougher job requirements gambling companies. The commission introduced new rules for licensing smallonline casinos.
The key change was the reduction of the maximum income bar, according to which companies are classified as start-ups. This definition now includes firms with an income of less than 10 million euros in 36 months. Previously, startups were recognized as companies that earned the same amount in just 12 months.
“This amendment is aimed at ensuring that companies that position themselves as startups really are. At the same time, so that they do not cause damage to corporate groups that have been in business for many years, ”an MGA representative commented on the new rule.
According to current rules, companies recognized as startups are exempt from paying a number of fees, the total amount of which can reach from 15,000 to 600,000 euros. Thus, the regulator has set an additional financial constraint for new licensees. For regular gamblers, this means that online casino operators will be subject to even stricter checks, which will positively affect the reputation of sites with a Maltese license. The changes will take effect from January 2020.