Further to in-depth research and consideration of all the implications involved (e.g. costs, legal and tax implications) potential applicants may submit the application to MGA. Upon receipt of the application, the MGA will undertake a thorough process in order to assess whether the applicant is fit and proper to conduct such business and whether they have met all the requirements needed with respect to the particular class being applied for.

In order to achieve this, the MGA will:

  • Comprehensively analyse the business plan submitted which must include forecasts, targets and marketing strategies amongst other information;
  • Undertake independent investigations on the individuals involved in finance and management roles;
  • Examine the constitutional documents of the company as well as the terms and conditions being attached to the business process;
  • Ensure that the minimum required issued share capital has been fully paid up.

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So ultimately, at application stage, the MGA assesses whether an applicant:

  • Is fit and proper to conduct gaming business;
  • Is correctly prepared from a business strategy perspective;
  • Has the operational and statutory requirements to meet the obligations prescribed by law and policy; and
  • Has correctly implemented and tested, on a technical environment, what has been applied for, before going live.

 

The MGA conducts a fit and proper exercise on the applicant by assessing all information related to persons involved in financing and management and on the business viability of the operation. As part of this process, the MGA conducts probity investigations with other national and international regulatory bodies and law enforcement agencies. The MGA then conducts an in-depth financial analysis of the applicant’s business plan. The applicant’s business plan is expected to have a detailed forecast of the operation, inclusive of marketing and distribution strategies, HR plan and growth targets.

Once previous stages are successfully completed, the MGA will inform the applicant that the application was successful and will invite them to implement the operation onto a technical environment in preparation to go live. The applicant will be allowed 60 days to complete this roll-out, after which the application will be considered as cancelled and subject to re-application. At any stage within those days, the applicant may appoint a Service Provider (approved by the MGA) to carry out a system audit. The systems audit will verify the live environment against the proposed application. At this stage the MGA expects minimal deviation from the application. If there are significant changes to the gaming system, the applicant will have to re-apply. On successful completion of the certification process, the Authority issues a ten-year licence.

There are four types of iGaming licences in Malta.
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