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BDO Malta - Remote Gaming Advisory Specialists

 

The Remote Gaming Industry is one of the most dynamic and the fastest-growing sectors in Malta. In 2004, Malta emerged as the undisputed front-runner in the regulation and facilitation of the online gaming industry when it was the first EU Member State to establish a stable and comprehensive regulatory framework on remote gaming, enabling any operator licensed by the Authority to offer its services to the European market and making Malta the jurisdiction of choice for remote gaming operators.

With the  regulatory framework promulgated on 1st August 2018, Malta aims to continue building on its success in the online gaming industry by:

  • simplifying the licensing process;
  • enhancing consumer protection standards and responsible gaming measures whilst promoting a risk-based approach towards regulation;
  • introducing innovative concepts such as issuing of corporate licences by the Authority; and
  • adopting a forward-looking approach by catering for regulation in connection with virtual currencies and distributed ledger technology in the gaming arena.

 

Whilst maintaining the benefits established in the previous legislation such as attractive gaming taxes and beneficial effective corporate tax rates on gaming operations.

By anticipating the industry’s growing and changing needs as well as providing the required legislative framework to support such development, Malta can be said to be the ultimate jurisdiction for the licensing and regulations of gaming companies and, consequently, one of the global leaders in this sector.

The concept of establishing an efficient and effective gaming entity in Malta is attractive for an abundant of reasons that would confidently include the facts that Malta is an EU member state, has adopted the Euro as its currency, is geographically positioned at the centre of the Mediterranean Sea and is represented by a diverse, highly-skilled and multilingual workforce driven by a professional work ethic.

 

BDO Malta has, for several years, acted as auditors, tax advisers and consultants to numerous Maltese and international gaming and betting companies, both private and publicly quoted.  We also have extensive experience in advising such businesses during the application process required to obtain a remote gaming licence and accordingly assist with all of the information and documentation required by the Malta Gaming Authority (MGA).

At application stage, the Malta Gaming Authority (MGA) assesses whether an applicant:

  1. Is fit and proper to conduct gaming business.
  2. Is correctly prepared from a business strategy perspective.
  3. Has the operational and statutory requirements to meet the obligations prescribed by law and policy.
  4. Has correctly implemented and tested, on a technical environment, what has been applied for, before going live.

In addition to regular auditing, accounting and taxation matters, we have extensive experience of advising and assisting gaming entities with:

  • Business and strategic planning
  • Facilitate data-centre requirements
  • International tax planning and structuring
  • Corporate financing
  • Property and corporate acquisitions and disposals
  • IT controls, environment reviews and systems improvement advice
  • Act regulations and compliance

 

For further information, download our iGaming brochure or get in touch:

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