The Malta Gaming Authority has issued a guidance document on the impact of the United Kingdom’s exit from the European Union to outline what is required from gaming companies that operate in or from Malta.
UK companies can no longer hold a licence with the Malta Gaming Authority
Since the UK will no longer be classified as an EU/EEA country, entities established in the UK are no longer allowed to apply for a licence in Malta.
UK companies with an MGA licence must:
- Re-domicile, or
- Transfer their licence to another company in the EU/EEA within the same corporate group
Recognition Notice will no longer be applicable for UK licences
The validity of existing recognition notices will be for the reminder of the validity of the current recognition notice, which is renewed every 12 months. Companies with a recognition notice must then:
- apply for a licence with the Malta Gaming Authority, or
- apply for a recognition notice in relation to any other EU/EEA licence they may have
Entities which are operating in or from Malta without a licence or recognition notice issued by the Malta Gaming Authority for the purpose of the activity being undertaken in or from Malta would be in breach of regulation 3 of the Gaming Authorizations Regulations. This breach is classified as a criminal offence.
Elements which will not be impacted:
The guidance document ensures that the UK’s exit will not impact the following:
· The Authority’s recognition of random number generator or game certificates issued according to UK standards;
· The Authority’s acceptance of UK licensed and regulated credit, financial and payment institutions for the purpose of holding player funds;
· The Authority’s acceptance of the use by licensed entities of UK licensed and regulated payment methods;
· The Authority’s acceptance of essential components located in UK territory (without prejudice to the position that may be taken by the European Commission, the European Data Protection Supervisor, and the Information and Data Protection Commissioner in Malta); and
· The Authority’s no objection for licensed operators having offices, including key function holders performing their duties from the UK.
Contact our iGaming team of experts on [email protected] to find out more about how BDO can assist you throughout this transitionary period.
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