LGA hosts 10 European gaming regulators

Malta’s igaming regulator has hosted 10 European counterparts for knowledge-sharing exercises over the past 12 months, Finance Minister Tonio Fenech said yesterday.

European regulators are looking to the Lotteries and Gaming Authorities for guidance and information on “how and what to regulate”, Mr Fenech told a breakfast meeting of the Malta Remote Gaming Council.

The St Julians event was themed Actual Remote Gaming Contribution Revealed.

Over the past 18 months, the LGA engaged in bilateral talks with the regulators of the UK, Denmark and Italy and signed Memorandums of Understanding with the Danish and Ontario gaming authorities. Talks with three other regulators should also lead to similar documents being signed.

Malta’s efforts to raise the bar in this field, which also saw the LGA seal sports integrity agreements with FIFA and the International Olympic Committee, have contributed to elevating Malta’s profile in the field.

Since March 2008, gaming licences granted by the LGA doubled, reaching 425 licences. Malta’s igaming sector now employs 4,000 people and generates €22 million in tax and licence revenue.

Mr Fenech highlighted the latest developments in what he termed a “regulatory revolution”, as the European Commission strives to address issues relating to an industry which remains ungoverned by a European directive.