LGA terminates 30 i-gaming licences in a year

The Lotteries and Gaming Authority over the past year terminated 30 gaming licences, Finance Minister Tonio Fenech said today.

Malta, he told an i-gaming seminar, had embraced the online gaming revolution "with vigour and vision" whilst offering one of the most modern environments in Europe for online gaming activities.

Malta was now home to more than 250 remote gaming companies, holding over 350 licences, the minister said.

"Although these numbers are remarkable, we have also shown that we are an effective regulating jurisdiction and not simply a licensing office. As a regulatory body, the LGA performs continuous compliance, monitoring and operator checks, and it takes the administrative action were necessary. Since its inception, it has not, and will continue to not shy away from taking the tough decisions such as terminating licenses."

"Such terminations ensure that we are safeguarding the value of the licences which other serious operators have worked hard to obtain, and keep on working hard to maintain. Maintaining a licence from our jurisdiction means that operators are keeping themselves in line with the highest remote gaming standards that exist within both the European Union as well as beyond its borders," the minister said.

The minister spoke about developments in e-gaming within the European Union and said that Malta was making the necessary representations when required. Malta also looked forward to the publication of a Green Paper on remote gaming.

"We are not against competition, but we cannot accept that the very principles of the EU Treaty are jeopardized by the restrictions which are being proposed by some member states," Mr Fenech said.