Malta Gaming Authority’s H1 2023 Performance: Rigorous Oversight and Economic Contribution

The Malta Gaming Authority’s H1 2023 reportes a major contribution towards the country’s economy by highlighting a GAV of €810.7 million. (Photo by Matthew Guay on Unsplash)

The Malta Gaming Authority’s (MGA) Interim Performance Report for the first half of 2023 presents an impressive picture of the gaming sector’s contribution to the Maltese economy and the Authority’s commitment to fair play.

The gaming industry demonstrates a vital economic role with a gross added value of €810.7 million, accounting for about 9.5% of the economy’s GVA.

The MGA’s strict regulatory measures, including 14 compliance audits, 85 desktop reviews, and the imposition of significant administrative penalties totalling €124,400, highlight its rigorous oversight.

It has been a busy year for the MGA with licensing cancellations.

We reported three cancellations in our (MGA) November 2023 News Summary just last month. AMGO iGaming Malta Limited (licence number MGA/B2C/163/2008), SFJL Holding Limited (licence number MGA/B2C/163/2008), and Arabmillionaire Limited (licence number MGA/ B2C/425/2017) were all published on the Malta Gaming Authority’s news pages as having their licensing cancelled.

The MGA has also continued reporting website names that use the MGA logo on their gambling platforms but have no connection with the licensing authority. Just a few websites reported this year include catcasinosx.com, sbobet.com, and kaiyun.io.

What has happened MGA cryptocurrency casinos? To date there has been no further news of online casinos taking on crypto as a deposit and withdrawal method. The previous news report covering this topic was back in February this year – MGA Crypto Framework Update.

The MGA’s report for H1 2023 reveals a robust and growing gaming industry in Malta, underpinned by stringent regulatory measures and significant economic contributions. With the new leadership of Charles Mizzi, the Authority is poised for continued success in the gaming sector.

Comparative Analysis: Key Financial Figures

Analyzing the Report: Strengths and Areas of Improvement

Positives:

• Significant economic impact: The gaming industry’s GAV of €810.7 million bolsters the Maltese economy.
• Rigorous regulatory framework: Strong enforcement actions, including compliance audits and penalties, ensure a fair gaming environment.

Negatives:

• High rejection/withdrawal rate of gaming license applications (8 out of 16), though this also reflects the MGA’s high standards.
• Ongoing challenges in ensuring responsible gambling and addressing suspicious betting activities.

CEO Statement: Charles Mizzi, the newly appointed CEO, underscores the positive trajectory of the Maltese gaming industry, emphasizing continued growth and innovation. Mizzi is poised to build on the achievements of his predecessor, Charles Brincat, and drive the sector towards further success.

How can you find unauthorised MGA URLs?

If you are worried that you are playing at a website that claims it is using MGA licensing but may be an unauthorised URL, the best place to find the latest publication of these URLs is via the official MGA website. Go to the MGA Player Hub, where you will find the ‘Unauthorised URLs’ page. If you access the list, you will find already 20+ websites listed this year. The entire list itself dates back to 2008.

The MGA website’s ‘Player Hub’ also has other useful information aimed at helping players. This is especially useful for Casinoplusbonus readers from South Africa, India, Canada, Ireland, and New Zealand, as these are the main geos we cover under the ‘Best Online Casinos’ and ‘ Reputable Online Casinos’ pages. Also, you will find individual country pages under the ‘Best Online Casinos’ menu drop area.

The MGA Player Hub

Every month, we also publish a news round up covering the MGA licensing authority’s latest announcements and include as many of these URLs as possible. The previous Casinoplusbonus round-up is mentioned in the introduction to this Malta Gaming Authority’s H1 2023 Performance.