Maltese Parliamentary Secretary for Financial Services, Digital Economy, and Innovation, Silvio Schembri made an announcement that was of utmost importance for companies and individuals who participate in the gaming industry of Malta. Nowadays the regulatory situation of this industry is as follows: different laws, contradictory documents, guidelines and directives. What will change? The Parliament promises to adopt the Gaming Bill – a newly developed document that will replace every currently existing law related to the gaming industry.

Malta offers a wide variety of services related to gaming industry and the main regulatory body is the Malta Gaming Authority (MGA). This authority has developed key technical requirements and guidelines for those who work in gaming industry. This means that the MGA will be one of the authorities working on creation and adoption of the new Gaming Bill.

Gaming industry in Malta is growing with a double-digit growth rate since 2015. After implementation of the new bill, an additional four percent growth is anticipated for the industry. The Gaming Bill will increase flexibility and effectiveness of existing legislation and add more stability to it. Also, safety is one of the most important aspects of the new regulation. In gaming industry, keeping business transparent, legal and fair is a complicated task, but is beneficial for all participants of the industry.

The Malta Gaming Authority will be granted all required powers and presented with necessary resources in order to work along with the Parliament for the needs of the Gaming Bill. The main objectives of the MGA will be:

• Consulting and research for needs of the new consolidated law.

• Development of the consumer-protection and safety provisions for the bill.

• Development of standardized technical guidelines and rules for regulation subjects.

• Conduct consultations on every step of the Gaming Bill development regarding its scope of work.

The abovementioned bill is an important step in development of the gaming industry in Malta. At this point, businesses in this industry already are one of the safest, most comfortable and free from crimes. After adoption of the Gaming Bill, companies and individuals will receive even more transparency and high-leveled services.