The MGA is announcing that it has received a formal application from Sky Betting and Gaming for a sports betting license. Joseph Cuschieri, Executive Chairman of the MGA said “We are delighted that a prestigious operator and brand like Skybet applied for a license with the MGA. It is encouraging to see that Malta’s reputation as a gaming jurisdiction is recognised by world leading brands. The Authority is committed to addressing the ongoing evolution of the industry and its future challenges with integrity, transparency and a focus on consumer protection. The fact that Skybet applied for a license in Malta is testimony to our reputation and encourages us to keep raising the bar in innovation, governance and thought leadership in gaming regulation”
The MGA is also publishing regulatory data for the first four months of 2017. The information shows that during the period Jan – Apr 2017 there was a 79% increase in license applications and a 33% increase in licenses issued compared to the first four months of 2016. Furthermore, the MGA registered an increase in enforcement activity between the same period over the last three years.
These figures show that the integrity of Malta’s jurisdiction coupled with the MGA’s regulatory ethos is key in the attractiveness of Malta as a global place of establishment for remote gaming operators. Furthermore, these figures show that the MGA’s compliance and enforcement activities over the last two years have been sharpened further due to enhanced supervision and monitoring of gaming activities. These figures do not include instances where the MGA refuses renewals of expired licenses based on fit and proper issues or the compliance track record of the respective licensee. The upsurge in applications is based on an increase in traditional gaming products but also the recently introduced Skill Games Regulations e.g. fantasy sports.
Jan – Apr 2017
|2015||2016||2017||Change 2017 vs 2016|
|No. of administrative fines issued.||27||9||14||+5|
|Terminated & cancelled licenses||16||20||12||-8|
About Sky Betting & Gaming:
Headquartered in Leeds and led by Chief Executive, Richard Flint, Sky Betting & Gaming was formed in 2001 and has since grown to become one of the UK’s leading online bookmakers, with a team of 1200 employees and a strong track record of innovation. With additional offices in Sheffield, London, Rome and Munich the business has expanded internationally into Italy and has plans to do the same in Germany soon.
As one of the first bookmakers to recognise the potential of online and then mobile platforms for betting and gaming, Sky Betting & Gaming today operates five major online products – Bet, Vegas, Casino, Poker, and Bingo – as well as leading sports affiliate Oddschecker. Its success means it has risen to be the biggest online player by customer numbers in the UK market. In 2015 Sky Betting and Gaming became an independent company following the sale of its majority share by its parent company Sky to CVC Capital Partners, one of the world’s leading private equity houses in a deal which valued Sky Betting and Gaming at £800million. Sky has entered into a long-term brand license agreement and other commercial arrangements with Sky Betting and Gaming in connection with the sale.
For a downloadable version of this press release, please click here.