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MGA Publishes its 2018 Annual Report and Financial Statements

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The Malta Gaming Authority (MGA) has published its Annual Report and Financial Statements for the financial year ending 31 December 2018 (can be found here). The report provides an overview of the activities and work performed throughout the year by the MGA. Furthermore, the report includes a detailed summary of the performance of the Maltese gaming industry during 2018 as well as a medium-term outlook into the future.

Throughout 2018, the MGA mainly focused on the implementation of the new Gaming Act which empowered the Authority to further strengthen its regulatory oversight. Furthermore, the MGA focused on the regulatory compliance through implementation of a number of innovative internal and external initiatives which improved overall governance and supervision of the gaming sector. In 2018, the Authority continued to further strengthen its Anti-Money Laundering/Combating Financing of Terrorism (AML/CFT) supervision, in order to ensure effectiveness in the mitigation of ML/FT risks relating to gambling services.

The Annual Report also looks at 2019 and beyond, with the MGA continuing to reinforce its compliance, risk and enforcement functions to ensure that it is equipped to achieve the regulatory objectives which the law requires it to pursue.

The following are the key highlights from the Annual Report:

  • In 2018, the MGA and the Financial Intelligence Analysis Unit (FIAU) jointly issued the Remote Gaming Implementing Procedures – Part II that were directed toward the remote gaming sector. Throughout the year, both Authorities participated in cooperative initiatives to strengthen the oversight of the gaming sector;
  • Throughout 2018, the MGA conducted a total of 33 AML/CFT full-scope examinations, eight of which were conducted jointly with the FIAU;
  • During 2018, the Authority placed a strong emphasis on effective enforcement. To this effect, the MGA has issued 16 Notices of Reprimand and 73 Notices of Breach, suspended four licences and cancelled another eight. In addition, a total of 139 administrative fines were imposed on operators following various regulatory breaches;
  • In 2018, the MGA’s Fit & Proper Committee deemed 63 individuals or companies to be unsuitable for a licence, or for a significant role in a licensee, as the case may be. In particular, 37 of these were related to individuals or companies considered as not having satisfied the integrity and reputation pillars of the MGA’s fit and proper criteria due to possible connections to money laundering or funding of terrorism. Around 2,000 criminal probity screenings were conducted during the course of 2018;
  • In 2018, the Authority set up a Commercial Communications Committee as required in terms of the new regulatory framework, ensuring due process in the assessment of regulatory breaches stemming from the requirements relating to commercial communications. During the year, a total of 14 cases were evaluated, out of which seven decisions determined that there had been a breach of the regulations;
  • The Authority received 209 applications for a licence and issued 93 licences to gaming operators, with the remaining ones still going through the acceptance process. A total of eight licence applications were rejected during 2018;
  • During the year under review, the MGA continued its digitisation efforts, including further updates to the Licensee Relationship Management System to cater for the submission of the Monthly Licence and Compliance Contribution Report. Additional functionalities will be added on the portal throughout 2019; and,
  • In line with its vision to become an increasingly knowledge-driven organisation, the Authority conducted and published the results of two major surveys in 2018. The areas analysed by the MGA included the skills gap in the gaming industry and the threats and opportunities associated with the consumption of gambling and gaming services by Maltese residents.

In publishing this report, Heathcliff Farrugia, Chief Executive Officer of the Malta Gaming Authority, stated that: “2018 was a remarkable year for the Authority, predominantly because of the coming into force of the new law on the 1 August 2018. The new framework strengthened the MGA’s supervisory role, specifically in the areas of compliance and enforcement, enabling it to focus efforts on areas which present a higher risk profile.

The new regulatory regime has also been pivotal in ensuring the Authority could become more agile in its decision-making.

Last year was also the year when Malta adopted the EU’s 4th Anti-Money Laundering Directive, which saw online gaming companies in Malta becoming obliged entities for the first time. This was challenging, both for licensees and the MGA, which together with the FIAU, started conducting onsite AML inspections.

In 2019, the MGA’s focus will be that of consolidating what has been built so far, and continue building on its regulatory powers, to ensure holistic regulatory oversight focusing on the integrity of market participants and the protection of consumers, whilst also embracing technological innovation without prejudicing the attainment of its regulatory objectives.”


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: MGA Publishes its 2018 Annual Report and Financial Statements

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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The post Love is in the Air at SlotsCapital.lv Casino with a Sweet 150% Deposit Bonus on the Mystical Forest of Forbidden Treasures Slot appeared first on European Gaming Industry News.

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Esports World Cup Welcomes FATAL FURY: City of the Wolves to Club Championship

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The Esports World Cup Foundation (“EWCF”) and SNK Corporation, a global leader in game development and publishing, today announced a landmark three-year partnership that brings the anticipated FATAL FURY: City of the Wolves to the Esports World Cup 2025. The legendary fighting game franchise’s first new entry in 26 years will rev its way onto the global esports scene at the world’s largest gaming and esports event in Riyadh, Saudi Arabia, this summer.

Credited with shaping the fighting game genre, FATAL FURY will connect its storied legacy with the future of esports, uniting its classic appeal with the excitement of modern competitive play. The EWC’s Club Championship will play a pivotal role in reigniting FATAL FURY’s competitive spirit, introducing the brand-new entry to a new generation of players, and fostering its growth on the global esports stage. The partnership will accelerate FATAL FURY: City of the Wolves’s debut in competitive gaming, leveraging the global stage of the Esports World Cup to introduce the iconic franchise to new audiences worldwide.

“FATAL FURY is a cornerstone of fighting game history, a franchise that helped ignite the competitive spirit of the 1990s arcade boom and set the stage for the genre’s mainstream revolution,” said Fabian Scheuermann, Chief Games Officer, Esports World Cup Foundation“As fighting games and retro titles experience a global resurgence, fueled by nostalgia, competitive depth, and community-driven passion, we are thrilled to partner with SNK for the next three years to bring this legendary series to the Esports World Cup stage. Together, we aim to reignite FATAL FURY’s competitive legacy by introducing it to a new generation of players and fans, elevating its place in the world of esports and supporting the growth of competitive gaming as a truly global sport”.

SNK’s FATAL FURY, first released in 1991 on the NEOGEO arcade system, has captivated fans for over three decades. Garou: Mark of the Wolves, released in 1999, has served as the franchise’s most recent installment, with SNK recently announcing the new release, FATAL FURY: City of the Wolves, to launch in April 2025 – 26 years after its predecessor. Renowned for its innovative gameplay mechanics, compelling characters —such as Terry Bogard, who also appeared in other games like Super Smash Bros.—and rich storytelling, the franchise has spawned multiple sequels, adaptations, and an animated series, cementing its legacy in gaming history.

Its inclusion in the Esports World Cup is set to revive its competitive spirit while fostering the game’s global growth and inspiring the gaming community worldwide.

“This partnership marks a historic milestone for FATAL FURY, a title loved around the world for 30 years, as it steps into the competitive gaming arena,” said Kenji Matsubara, CEO of SNK Corporation. “The Esports World Cup provides the perfect platform to showcase the franchise’s enduring legacy while engaging a new generation of fans, including those watching the great fights live in Riyadh arenas and on screens around the world. With the upcoming release of City of the Wolves in April 2025, this collaboration paves the way for an exciting future, blending the series’ rich history with incredible new possibilities. Together with other landmark titles in SNK’s rich fighting game library—such as THE KING OF FIGHTERS XV and SAMURAI SHODOWN—we will continue to be a leader in the ever-expanding world of esports for years to come. We’re thrilled to work with EWCF to deliver an unforgettable experience for players, fans, and fighting game community members around the world.” 

The FATAL FURY’s announcement adds another revered title to the Esports World Cup’s multi-year lineup, joining a prestigious roster of the world’s most popular games spanning a variety of genres, including first-person shooters, MOBAs, battle royales, strategy and fighting games, as well as one of the most enduring games of all time: chess. With the addition of Fatal Fury, the 2025 event features 20 tournaments across 19 game titles, with more titles set to be revealed in the coming weeks.

Esports World Cup 2025 will once again unite gaming and esports communities in Riyadh, Saudi Arabia, for a global competition that will crown the next Esports World Cup Champion. The tournament’s unique Club Championship cross-game format will reward Clubs and players with points based on their success in the games, crowning the top Club in the final standings as the Esports World Cup Club Champion in the largest-ever celebration of esports. The inaugural EWC in 2024 featured 200 Clubs and 1,500 elite athletes from 100 countries, competing in 22 tournaments across 21 games for a $60 million prize pool. The eight-week competition and festival drew 500 million viewers online and saw 2.6 million people attend.

The post Esports World Cup Welcomes FATAL FURY: City of the Wolves to Club Championship appeared first on European Gaming Industry News.

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The post Play Booming Games’ brand new Valentine’s slot appeared first on European Gaming Industry News.

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