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ARTICLE · 31 MARCH 2005

Online Gaming – Hidden Treasure or Risky Business?

A positive step taken last year was the promulgation of a comprehensive set of regulations in a legal notice amending the Lotteries and Gaming Act. Such updated legislation has opened the path for the regulation of lotteries and gaming operations to reflect current trends.

MaltaTax
George Mangion
George Mangion

A positive step taken last year was the promulgation of a comprehensive set of regulations in a legal notice amending the Lotteries and Gaming Act. Such updated legislation has opened the path for the regulation of lotteries and gaming operations to reflect current trends.

In less than a year the flurry of contacts and enquiries which have bombarded practitioners from foreign operators seems to go unabated. The number of licensed companies now exceed 60 and rumour has it that last month a prominent first tier company has signed in their application.

Such first class operators usually operate in the $3 billion bracket and will augur well for the island to post itself as one of the leading lights in European gaming map. Following the issue of remote gambling regulations a number of licences were made available such as online casinos, casino-style games, betting exchanges and lotteries. The authorities have seen how other competing jurisdictions have already legislated and marketed

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