The Malta Gaming Authority (MGA) has released its annual report for 2024, which shows an increase in gaming licence applications and active players.
In its detailed report, which looked at an overview of the Maltese gaming industry, the regulator also highlighted the continued collaboration with bodies across Europe and the world as well as its ongoing commitment to anti-money laundering and counter-terrorist financing (AML/CFT).
The MGA said it received 28 new gaming licence applications in 2024, up from 24 the previous year, with a further 20 rejected, withdrawn or cancelled – one fewer than 2023.
Seventeen gaming licences were issued, two more than the previous 12 months, while 20 licences were surrendered — a fall of 13 from 2023.
In terms of renewed licences, the MGA received 12 applications and renewed eight. The previous year saw five applications and two renewals.
By the end of 2024, there were 304 companies holding a valid active Maltese licence, down one from 2023.
The report confirmed there were 39,704,187 active player accounts at the end of 2024, up from 36,991,769 the year before.
While over 1.8 million players signed up to the self-exclusion scheme, the MGA noted the figure could include players who had registered via more than one website and therefore be lower.
Over the year, 43 AML/CFT compliance examinations were conducted on MGA licensees.
Of that number, 18 were initiated by the MGA and 25 by the country’s Financial Intelligence Analysis Unit (FIAU).
Additionally, 60 AML/CFT compliance examinations reports were issued – 39 by the MGA and 21 by the FIAU.
Eleven closure letters were handed out “to licensees who had either addressed their identified issues after receiving a report or whose findings from the compliance examinations were deemed not serious and/or systemic”.
Six licensees required remediation and/or administrative measures from the FIAU. These were based on shortcomings or breaches found during examinations and fines totalled slightly less than €185,000.
The MGA noted it carried out 37 interviews for potential Money Laundering Reporting Officer (MLRO) positions, with those interviews restructured from previous years to “enhance standardisation and efficiency, ensuring that candidates meet the required standards of knowledge and awareness of the Maltese AML/CFT legal framework”.
Of the interviews, 22 candidates were approved and four rejected. Eleven interviewees were a conditional exemption.
In relation to sports betting integrity, licensees submitted 244 suspicious betting reports in 2024, broken down into events and accounts.
The MGA defined an event as: “A reported instance where irregular or potentially suspicious activity may have influenced the integrity of a sporting outcome,” while an account is: “A gambler or betting activity flagged for suspicious patterns, often in connection with concerns about the integrity of an event.”
Reports were mainly related to sports, not limited football, tennis and esports, with the suspicion on “stake and volumes above the average expectation for the market”. This accounted for 81.9% of reports, with 59.8% of those submitted on “activity focused on specific markets”.
Over the course of 12 months, the MGA shared 247 alerts with its licensees, 73 of which contained “high level betting data” that was given to the relevant sports governing bodies.
The MGA announced there was 3,066 requests for assistance received and 3,372 resolved, some having rolled over from 2023.
The regulator also investigated 83 websites that contained “misleading information”, with 29 notices published on its website stating a case has escalated to enforcement action.
Collaboration continued in 2024, with the MGA receiving 85 requests for assistance – 42 from the EU. The MGA said: “Most of these requests related to generic requests for cooperation followed by requests on background checks as part of an authorisation process. Fewer requests were received on alleged illegalities or sport integrity.”
In turn, the MGA sent 30 of its own requests, which included 22 to EU countries relating to background checks on authorisation processes.
The regulator added that it issued 59 replies to requests requiring a “licensees’ good standing” and shared relevant information.
There were also 161 requests for information from local authorities: 11 from the FIAU, 47 from the Malta police force and 103 from the Asset Recovery Bureau.
Financially, the MGA reported revenue of €84.1m in 2024, up from €82m the year prior. Licence fees amounted to €8.6m, slightly down on 2023’s €8.7m, with application fees up from €110,500 to €140,000.
Charles Mizzi, MGA CEO, said: “Recognising that gaming is inherently a cross-border activity, and mindful of the international weight the MGA carries as a leading regulator, we placed strong emphasis on further building and reinforcing strategic partnerships, both locally and abroad.
“Effective regulation does not happen in isolation, and collaboration remains a key pillar of our approach.
“These relationships, formalised through Memoranda of Understanding and Data Sharing Agreements, are vital to supporting our regulatory and supervisory functions.
“We remain committed to open, constructive engagement with the industry, recognising that effective regulation is built on mutual understanding.”
On the regulator’s future, he added: “Looking ahead, my aspiration is for the MGA to continue striking the right balance – safeguarding the integrity of the gaming sector while remaining responsive and supportive of industry growth.
“Effective regulation, in my view, should not hinder innovation or progress but enable and nurture it. I want the MGA to be recognised not only for setting high standards, but also for guiding the industry to meet them efficiently and responsibly.
“Ultimately, I am committed to ensuring that the MGA remains a forward-looking, collaborative and trusted regulator – one that understands the evolving landscape and anticipates future needs.”
The post MGA CEO keen to support industry growth with active players up to 39 million in 2024 first appeared on EGR Intel.
Malta Gaming Authority releases its annual report, as Charles Mizzi places emphasis on building partnerships
The post MGA CEO keen to support industry growth with active players up to 39 million in 2024 first appeared on EGR Intel.