New Skill Games Regulations introduced in Malta

New Skill Games Regulations which empower the Malta Gaming Authority to regulate this sector came into force on the 24 January of 2017.

This legislative framework provides for the requirement of an MGA licence for prospective operators of controlled skill games, so that these may service end users and/or supply business to business.

This licence, which shall be valid for five years, is subject to the applicant meeting the stipulated regulatory requirements, including but not limited to the screening of persons behind the operation and measures to prevent fraud and money-laundering. The Malta Gaming Authority (MGA) retains the right to decide whether the applicant has in fact satisfied the criteria for issuing this licence.

The fees linked to this new licence include an application fee of €2,300, and once issued, an annual fee of €8,500 paid in advance. Gaming operators will also be subject to reporting and operational requirements, including tax reports, information on corporate structure, protection of players’funds, and fair and transparent games rules, among others.

Moreover, applicants shall be liable to pay 5% tax on real income, which shall be determined as total wagers less total money paid out to players.

For more information visit also the MGA website at the following link.