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Silvio Schembri, the Junior Minister for Financial Services of Malta, has played down serious concerns raised by Neil McArthur, CEO of the UK Gambling Commission, after the reveal that Malta-based gaming companies were the biggest offenders in Britain.
“The Malta Gaming Authority is doing a sterling job. Our duty as politicians is that we give all the necessary tools, by enhancing legislation and helping regulatory bodies as MGA to monitor and sanction were needed. This is what we are doing, and what we will continue to do in the future,” Schembri said.
Neil McArthur slammed Malta’s compliance as simply “not good enough” during a recent speech in Malta.
“The Commission is clear that although progress has been made in the regulation of the online market since 2014, far more needs to be done to raise standards,” McArthur said.
Malta-based companies currently hold the largest market share of the UK online gaming market, accounting for close to 30% of the total, with the industry exploding since the introduction of the tax rebate system.
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: Malta’s Junior Minister Plays Down UKGC Chief’s Concerns with Local Gambling Companies’ Lack of Compliance
