Casinos.co.uk: Casino News Archive
Friday 2nd April 2004
Maltese e-gaming Regulations Imminent
The Maltese Lotteries and Gaming Authority is expected to publish its newly drawn up online gaming regulations in the next few days, with the first new licenses issued shortly after, making the Mediterranean Island a fully-fledged regulatory gaming jurisdiction, and an attractive destination for the online casino operator.
George M. Mangion, whose company, PKF Fiduciaries has been promoting Malta as an e-betting and e-gaming base, said the licences could be a much needed tool to stimulate the economy and generate sustainable employment.
“With careful marketing… Malta potentially qualifies as a low-cost, high-tech domicile for online casinos and e-gaming operations, he added. “Malta understands the commercial realities facing the e-gaming industry and therefore has adopted a commercially realistic approach towards regulating the industry. Certainly it combines a stable political and communications structure with a competitive tax structure.”
Licensees will have to meet strict standards of practise, with authorities examining the ‘character and record of persons vested with executive powers’ as well as the financial position and background of the company in order to comply with regulations.
Source:OnlineCasinoNews
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