Maltese Government is Considering a U-turn on its Policy Regarding Malta-Licensed Gambling Companies
MALTA (August 20, 2023) — According to local online news platforms the Malta Gaming Authority is reconsiding the Macolin Convention as it seems that there has been a change in stance regarding the adoption of the convention, and the Malta Gaming Authority is seeking legal advice on the consequences of signing the agreement that it had shunned since 2014.
The Macolin Convention, if signed, would lead to a redefinition of illegal sports betting, potentially making sports betting websites offering services from Malta to jurisdictions where it’s outlawed considered “illegal” under the new definition. This shift in position contrasts with the government’s recent adoption of a new law related to gambling.
The legal firm Van Bael & Bellis is being consulted by the Malta Gaming Authority to provide expertise on the potential effects of Malta signing and ratifying the Macolin Convention. This decision comes after international advisors had suggested that Malta adopt the convention as a show of goodwill to the Financial Action Task Force (FATF) during the evaluation of whether Malta should be placed on the FATF’s grey list.
The change in stance also coincides with a recent gaming Bill enacted in June that introduced changes to the previous Gaming Act. This new law aims to codify Malta’s public policy of encouraging gaming operators to establish themselves in the country. However, this law has raised concerns within the European Union about potential anti-competitive aspects and illustrates the complex interplay of legal, regulatory, and international factors in the realm of gambling and gaming regulation.
SOURCE: Provided by a contributor.Tags: gambling companies, Malta, The Malta Gaming Authority (MGA), Malta-License