Financial & Operational Activity
On successful completion of a gaming licence application process, the applicant, now a Licensee, is granted a ten (10) year Licence.
Financial & Operational Activity
The Licensee is deemed to commence activity upon acquiring the gaming licence. Any changes to the gaming equipment, such as rules of the game or any other intended divergences from the original Licence application must be submitted to the Authority for approval.
Other key reports required by the Authority to monitor the overall gaming activity are listed hereunder.
Compliance Review
The MGA mandates that after going live, a Licensee must undergo a number of compliance audits of its operations performed by an approved Service Provider appointed by the Licensee. Such audits need to be completed by the Service Provider within 90 days from the MGA’s notice.
The MGA will require the audit to adhere to the following schedule:
- After the first year of operation after being licensed by the MGA; and
- Any other audit depending on the compliance plan set by the MGA.
Failure of a compliance audit could lead to suspension or termination of a licence.
