Malta licence applications drop by 34% in 2020
MGA CEO Carl Brincat proud of regulator’s “tireless” work during pandemic amid 245% increase in regulatory warnings
The number of online gambling companies seeking a Maltese licence dropped by 34% in 2020, according to latest data released by the Malta Gaming Authority (MGA).
Licence applications fell to just 58, down from 89 in 2019. This also marked a 79% decrease on 2018, when the MGA received 209 applications.
However, the number of licences issued by the MGA rose by 28% in the same period to 68, or 314 overall, a 10% annual uptick.
B2C gaming licence numbers increased to 196 for 2020, while B2B supplier licences rose by 32% year-on-year to 122.
In addition, the number of people directly employed by the island’s online gambling industry rose by 15% during 2020 to 7,557.
The total number of active player accounts with Malta-licensed operators climbed to 36,196,001, while the number of new player accounts also increased to 15,938,919 during 2020.
Between January and December 2020, online players set more than 8.4 million limits across four different limit categories, with deposit limits the most popular at 81.2%.
Malta-licensed online operators contributed €50m in compliance monies to the MGA in 2020.
The MGA further revealed a 245% increase in regulatory warnings issued to operators for non-compliance to 69 for 2020.
The MGA has committed to beefing up its regulatory approach in 2021 with an increased focus on improving compliance procedures, responsible gambling, AML and anti-match-fixing standards.
“During 2021, we envisage implementing a number of changes and enhancements to our CRM system as well as to our internal portal and data repository,” the MGA said.
“These improvements will enable us to provide a stable and reputable regulatory environment, whilst ensuring that we are as efficient as possible and remain sufficiently flexible to avoid stifling innovation, be it by start-ups or by established players,” it added.
Discussing the MGA’s performance during 2020, CEO Carl Brincat said: “The year 2020 will undoubtedly be remembered for the challenges the pandemic presented us with, and I am proud of our employees who worked tirelessly to ensure that we continued to perform the functions required of us at law.
“Keeping the ship steady during a challenging year serves as a strong foundation for us to look ahead with renewed commitment to keep building on the positives and improve on our shortcomings, to reach new heights in our regulatory approach,” Brincat added.