Malta Gaming Authority (MGA) has just officially announced on its website that the MGA Executive Chairman, Joseph Cuschieri, has been appointed CEO of the Malta Financial Services Authority (MFSA). Joseph Cuschieri shall also sit on the MFSA’s Board of Governors. According to the MFSA press release, the new Board of Governors of the MFSA shall […]

Malta Gaming Authority (MGA) has just officially announced on its website that the MGA Executive Chairman, Joseph Cuschieri, has been appointed CEO of the Malta Financial Services Authority (MFSA). Joseph Cuschieri shall also sit on the MFSA’s Board of Governors.

According to the MFSA press release, the new Board of Governors of the MFSA shall now be composed as follows:

Prof John Mamo – Chairman
Mr Joseph Cuschieri – CEO
Mr Mario Borg
Dr Joseph Brincat
Mr Frans Camilleri
Dr John Consiglio
Dr Lauren Ellul
Mr Andre Psaila
Dr Mario Vella
Mr Herbert Zammit Laferla

Malta Gaming Authority press release can be found here

The MFSA Board of Governors has delegated Joseph Cuschieri as the new Chief Executive Officer of the Authority with impact from 24 April 2018. He might likewise sit on the Board of Governors of the Authority. This is the first run through in its history that the MFSA will have a Chief Executive Officer and […]

The MFSA Board of Governors has delegated Joseph Cuschieri as the new Chief Executive Officer of the Authority with impact from 24 April 2018. He might likewise sit on the Board of Governors of the Authority. This is the first run through in its history that the MFSA will have a Chief Executive Officer and a non-official Chairman following alterations to the MFSA Act declared by Government a year ago.
The new structure which is in accordance with other European money related administrations controllers (e.g. Money related Conduct Authority in the UK) was actualized following a discussion with the European Central Bank.
In his new part as Chief Executive Officer of the MFSA, Mr Cuschieri should be in charge of the general administration and execution of the Authority, system advancement/usage incorporating changes in the budgetary administrations segment.

A Certified Public Accountant by calling and a kindred individual from the Malta Institute of Bookkeepers, Mr Cuschieri is represented considerable authority in administration bookkeeping, corporate back, monetary control and general/business administration. He likewise holds a Masters Degree in Business Administration from Henley Management College, UK and an Advanced Diploma in Management Accounting from the Chartered Institute of Management Accountants (CIMA), UK.

All through his expert profession traversing 25 years, he held different back related parts, senior official positions and directorships inside the private and open segment among which Head of Corporate Affairs and after that Chief Commercial Officer at Vodafone Malta, Chief Operating Officer at the Malta Communications Authority, senior specialist with EY and before joining the MFSA he held the situation of Chairman and CEO at the Malta Gaming Authority since November 2013.
Amid his chance at Vodafone, Mr Cuschieri was engaged with enter administrative undertakings both in Egypt and Turkey. Besides, he spent a time of eighteen months selected on the Vodafone Group’s worldwide initiative improvement program. He has immense involvement in monetary direction especially in the electronic interchanges and innovation divisions where he was engaged with significant changes in the broadcast communications part amid his opportunity at the Malta Communications Authority.

Mr Cuschieri is additionally an individual from the Blockchain team where he was engaged with the advancement of another administrative system for virtual monetary standards and conveyed record innovation. In charge of the Malta Gaming Authority, Mr Cuschieri concentrated on improving the administration of the gaming area including a noteworthy authoritative redesign which prompted the tabling of another Gaming Bill in Parliament.

The UK Gambling Commission (UKGC) has designated Neil McArthur as its new CEO with prompt impact. McArthur had been serving in the part on an interval premise since Sarah Harrison left the national administrative body in February. The present (Thursday) arrangement comes after what the UKGC portrayed as a “careful hunt and profoundly aggressive process” […]

The UK Gambling Commission (UKGC) has designated Neil McArthur as its new CEO with prompt impact.

McArthur had been serving in the part on an interval premise since Sarah Harrison left the national administrative body in February.

The present (Thursday) arrangement comes after what the UKGC portrayed as a “careful hunt and profoundly aggressive process” to enlist the part.

“I’m looking forward to the challenge that lies ahead to make gambling fairer and safer”, McArthur said.

“I am really proud of the Commission’s achievements over the last 12 years, but there is a lot more to do.

“Ensuring consumers are empowered to make informed choices about gambling while addressing and reducing the harms that can come from gambling is a challenge that cannot be overcome by us alone.

“It needs continued strong partnerships with other regulators, consumer representatives and government.

“Most importantly, it requires gambling operators to treat their customers fairly and they can expect us to be tough but fair in making sure they meet their responsibilities.”

Bill Moyes, seat of the UKGC, included: “Neil’s appointment is great news for the Commission; he brings to the role a thorough understanding of gambling issues and regulation, along with proven commitment to making gambling fairer and safer.

“I’m looking forward to working even more closely with Neil as he leads the Commission to make significant progress in raising standards, protecting consumers and the public from gambling-related harm and improving the performance of the National Lottery.’’

Control in the cryptocurrency industry is dependably an intriguing issue. It appears to be the majority of these improvements are compelling organizations to migrate to more crypto-accommodating nations. A great deal of organizations are at present thinking about the move to Malta, which is rapidly turning into an extremely prevalent place for cryptocurrency firms. There […]

Control in the cryptocurrency industry is dependably an intriguing issue. It appears to be the majority of these improvements are compelling organizations to migrate to more crypto-accommodating nations. A great deal of organizations are at present thinking about the move to Malta, which is rapidly turning into an extremely prevalent place for cryptocurrency firms.

There are a couple of various reasons why Malta is so speaking to Bitcoin organizations. The district is fairly receptive with regards to managing this industry. Its attention on blockchain and digital currency is sure generally speaking and takes into account development. A few firms are currently hoping to move to Malta because of administrative weight in their nation of origin.

The legislature of Malta is likewise very enthused about enhancing this pattern. As per a Tweet, the nation sees this enthusiasm by digital currency firms as a noteworthy financial accomplishment. Binance has effectively migrated to this European nation, which has picked up a great deal of media consideration. Other monetary accomplishments incorporate a low joblessness rate and most astounding financial development in the EU.

These angles make the island country all the all the more engaging a wide range of firms. It now appears to be many digital currency organizations are hoping to set up shop in Malta. Doing as such is fairly straightforward, contrasted with managing prerequisites in different nations. Making it more open for organizations to set up an office in Malta is a case different nations should focus on a swell.

The Malta Gaming Authority (‘MGA’) published a report which gives direction on the utilization of Distributed Ledger Technology and on the acknowledgment of Virtual Currencies through the usage of a Sandbox Environment. Virtual Currencies and Distributed Ledger Technology (DLT) are another problematic marvel in the computerized money and innovation territory. The MGA’s methodology is to […]

The Malta Gaming Authority (‘MGA’) published a report which gives direction on the utilization of Distributed Ledger Technology and on the acknowledgment of Virtual Currencies through the usage of a Sandbox Environment.

Virtual Currencies and Distributed Ledger Technology (DLT) are another problematic marvel in the computerized money and innovation territory. The MGA’s methodology is to be at the bleeding edge of remote gaming direction while grasping development and recognizing that a judicious approach around there is both sensible and required.

The attributes of virtual monetary forms, while frequently referred to as drivers for their reception, at the same time represent various dangers which should be tended to in a well thoroughly considered way. The MGA is careful that these dangers should be tended to keeping in mind the end goal to guarantee that the vital shields are set up to protect consumers, cater for the prevention of crime and money laundering or funding of terrorism (with due regard to the 4th Anti Money Laundering Directive) and protect the reputation of the Maltese jurisdiction.

By merging points of view of kindred partners, the internet gaming industry and key specialists in these sort of advances, the MGA is issuing for open counsel, criteria as set out in this paper for the foundation of a sandboxed (test and learn) condition for virtual money reception inside the remote gaming division, while likewise drafting managing standards for the use of DLT and its different adjustments inside the business.

You can find more details on the following link.

Melco International Development Ltd, a Hong Kong-recorded organization, later this year will dispatch an impermanent casino facility in Cyprus. Lawrence Ho, the organization director, has affirmed the advancement. The brief office is relied upon to work till 2021, the year the organization had set for the dispatch of its primary venue. “In 2018, we will […]

Melco International Development Ltd, a Hong Kong-recorded organization, later this year will dispatch an impermanent casino facility in Cyprus.

Lawrence Ho, the organization director, has affirmed the advancement. The brief office is relied upon to work till 2021, the year the organization had set for the dispatch of its primary venue.

“In 2018, we will commence operating a temporary casino facility while we work towards a 2021 targeted opening for the permanent integrated casino resort,” said Lawrence Ho Yau Lung in the yearly report of the organization recorded on Thursday.

“2018 promises to be a year of beginnings. Macau has entered a new phase of growth. Our first integrated resort will achieve its third and final phase. We will break ground in Cyprus, and we hope to secure a gaming license in Japan,” peruses the report. “From Macau, the Philippines and around the Asian region to Cyprus, I am also confident that we will continue to diversify our revenue streams and grow with the premium mass consumer base around the world,” said Ho.

Profits dive in the financial year 2017 as escalated revenue was impacted by hiking operating costs, new games, and long-term investments witnessed by the Greek company, OPAP. The Athens-based firm observed net benefit disintegrate around 25% regardless of its GGR hoisting by 4% to €1.45bn ($1.78bn). Net profit was down to €126m, while gross profit […]

Profits dive in the financial year 2017 as escalated revenue was impacted by hiking operating costs, new games, and long-term investments witnessed by the Greek company, OPAP.

The Athens-based firm observed net benefit disintegrate around 25% regardless of its GGR hoisting by 4% to €1.45bn ($1.78bn).

Net profit was down to €126m, while gross profit from gaming operations was up 3.5% to €564.7m.

Notwithstanding, the costs changed altogether attributable to changes in concurrences with specialists, the presentation of more than 10,000 video lottery terminals and duties regarding social responsiblity.

OPAP additionally observed a 69% drop in final quarter net benefit to €17.2m, hurt by higher expenses for the organization of new diversions.

In perspective of this, OPAP Chief Executive Damian Cope stated: “2017 was a particularly busy year in terms of the overall level of change that OPAP underwent. Beginning with the new partnership agreement that we signed with our agents in Q1 we managed to successfully implement a number of new initiatives that will each act as solid foundations for the long–term benefit of the company and ensure the delivery of our 2020 Vision.”

The Gibraltar-based company, home to many of the world’s leading e-gaming and sports betting firms, is concerned about the impact of the UK’s departure from the European Union on the British Overseas Territory. Around 25% of Gibraltar’s GDP is generated by the gambling industry. There are fears that an end to freedom of movement could […]

The Gibraltar-based company, home to many of the world’s leading e-gaming and sports betting firms, is concerned about the impact of the UK’s departure from the European Union on the British Overseas Territory.

Around 25% of Gibraltar’s GDP is generated by the gambling industry.

There are fears that an end to freedom of movement could cause problems as many workers actually live across the border in Spain.

“Proceeding with its backup plan” 888 is obtaining a gaming licence in Malta. In order to be able to “continue to serve European markets with no disruption to its business” it also said it is establishing a server farm in Ireland.

888 explained in its 2017 financial statement released last week that “the ability to rely on EU principles underpins 888’s regulatory strategy regarding major EU markets”.

888 said: “The status of Gibraltar as a result of Brexit remains unclear. Recent indications by the EU have suggested that Spain would be granted a veto right with respect to the application to Gibraltar of transitional arrangements agreed with the UK, which increases the risk of a “hard Brexit” for Gibraltar.

“If 888 were to remain registered, licenced and operating in Gibraltar in these circumstances, its ability to rely on EU freedom of services / establishment principles in supplying its services within the EU will be limited; furthermore, it may become ineligible to continue to hold regulatory licenses in certain EU jurisdictions.”

As well as operational concerns, 888 also said it fears an adverse effect on the market.

It added: “Brexit may also adversely impact economic and market conditions in the United Kingdom and the rest of Europe.”

The Australian Communications Minister Mitch Fifield is set to introduce the legislation, which bans betting on international lotteries, on Wednesday. Minister Fifield said said in a statement: “The government has formed the view that permitting betting on these services, also known as ‘synthetic’ lotteries, undermines the longstanding community acceptance of official lottery and keno products. […]

The Australian Communications Minister Mitch Fifield is set to introduce the legislation, which bans betting on international lotteries, on Wednesday.

Minister Fifield said said in a statement: “The government has formed the view that permitting betting on these services, also known as ‘synthetic’ lotteries, undermines the longstanding community acceptance of official lottery and keno products.

“These products enjoy community support as they generate an income stream for small retail businesses and make a significant contribution, through licence fees and taxation, to the provision of public services and infrastructure by state and territory governments.

“Traditional lotteries and keno games are popular and longstanding recreational gambling products that form an important income stream for thousands of small businesses across Australia, including newsagents, pharmacies, pubs and community clubs.”

The Australian Lottery and Newsagents Association, represents more than 4,000 businesses employing more than 15,000 people, welcomed the proposed amendment to the Interactive Gambling Bill, saying the news came as a “relief”.

The board of directors of global gaming company NetEnt have announced the departure of its CEO and President Per Eriksson, effective immediately. To increase focus on the company’s long-term growth, the board of directors of NetEnt said on Monday that Eriksson (CEO and President since 2012) has been replaced. “NetEnt has developed well over many […]

The board of directors of global gaming company NetEnt have announced the departure of its CEO and President Per Eriksson, effective immediately.

To increase focus on the company’s long-term growth, the board of directors of NetEnt said on Monday that Eriksson (CEO and President since 2012) has been replaced.

“NetEnt has developed well over many years and several parts of the business are still developing well, for example in regulated markets, but the overall performance of the group has not been as it should,” chairman Vigo Carlund explained.

“The board believes that NetEnt needs a new driving force to reverse the trend and increase the focus on growth.”

As the company undertakes its executive search for Eriksson’s replacement, NetEnt’s board of directors appointed Chief Financial Officer Therese Hillman as acting interim leader.

“The value creation potential in NetEnt remains significant,” Carlund added. “The online gaming market has structural growth driven by the migration from offline to online gaming. The company has a solid balance sheet and a strong brand name in its segment of the market. The board would also like to extend its gratitude to Per Eriksson for his time as CEO for NetEnt.”

The National Betting Authority (NBA) presented yesterday 21st of March 2018 the results of the first National Prevalence Study on the impact, behavior and characteristics of users of gambling activities. The main goals of the survey were: – Record the degree of participation in gambling – Determinate the percentage of problematic gambling – Study the […]

The National Betting Authority (NBA) presented yesterday 21st of March 2018 the results of the first National Prevalence Study on the impact, behavior and characteristics of users of gambling activities.

The main goals of the survey were:

– Record the degree of participation in gambling
– Determinate the percentage of problematic gambling
– Study the socio-demographic characteristics of players
– Determinate the frequency of participation
– The budget and actual participation costs

An analysis of the population’s knowledge of legal and illegal gambling was recorded, as well as the dangers of gambling addiction. The different player profiles were examined, with emphasis on those players that are classified as pathological.

According to the prevalence study, 75% of Cypriots aged 15 and above, representing 399,750 of the total population, are currently involved in gambling activities. Out of those that are involved in gambling activities, 81% (323,798 people) are identified as non-risk players, 13% (51,967) are considered as players with symptoms of possible problematic gambling behaviour and 6% (23,985) are identified as problematic and pathological gamblers. Furthermore, the study demonstrates that 85% of respondents believe that the Government should strengthen its role in regulating gambling activities.

The Chairwoman of the National Betting Authority, Ms. Ioanna Fiakkou, mentioned that the lack of knowledge that existed up to now, regarding the participation of Cypriots in gambling activities, has led to the creation of urban myths and misconceptions. The results of this study provide enough information and constitute the right tool for taking the necessary measures in all aspects of the gambling participation. Moreover, the preferences of players in specific gambling games (that 6 out of 10 are either illegal or in a grey area), confirm and make necessary the strengthening of the Government’s policies to effectively regulate the gambling industry. This is achieved through the upgrade of the legislative framework and the elimination of illegal activities.

These Governmental policies are embraced and are demanded by 85% of the population, the Chairwoman stated. Ms. Fiakkou also added that “At this present stage, there is a fragmentation of responsibilities among various relevant stakeholders, and the coordination between these stakeholders is still in the early stages. In conclusion, the Authority considers necessary the mobilization of all stakeholders and looks forward to the transformation of its Strategy into a National Strategy. Therefore, we invite all relevant stakeholders and Governmental services to respond to our call for the development and adoption of a unified National strategy on gambling, on the basis of a joint program. Consequently, through the coordinated efforts of all of us, on the basis of a National Strategy, our common goals, both short and long term, will be implemented effectively and timely”.

The prevalence study was conducted by IMR and University of Nicosia on a National basis, between November 2017 and January 2018, on a random sample of 3.000 people aged 15 and above, through personal interviews.

You can find the results of the survey here.

The Gibraltar Broadcasting Corporation cited Gaming Minister Albert Isola saying Bet365 “remain completely dedicated to Gibraltar and the sum of its workforce here” and that the quantity of staff the Times of Malta asserted were being moved from Gibraltar to Malta is ‘entirely mistaken.’ Online betting operator Bet365 is apparently planning to move its Gibraltar […]

The Gibraltar Broadcasting Corporation cited Gaming Minister Albert Isola saying Bet365 “remain completely dedicated to Gibraltar and the sum of its workforce here” and that the quantity of staff the Times of Malta asserted were being moved from Gibraltar to Malta is ‘entirely mistaken.’

Online betting operator Bet365 is apparently planning to move its Gibraltar activities to Malta once the UK formally leaves the European Union one year from now.

On Sunday, the Times of Malta detailed that the Stoke-based Bet365 had marked a guarantee of offer concession to “an extensive piece of another property improvement” in the Tigné district of Sliema, a town on Malta’s upper east drift. The assention is supposedly worth €70m and will produce results once the UK formally finishes its ‘Brexit’ from the EU agreement on March 30, 2019.

As that date nears, the secretly held Bet365 supposedly plans to move around 1k workers from Gibraltar to its new Malta office, managing an unforgiving hit to the Gibraltar economy while altogether boosting Malta’s, which as of now infers 12% of its aggregate financial yield from the gaming business.

Bet365, one of the UK’s most beneficial internet betting administrators, solidified its online activities in Gibraltar in 2014 as a major aspect of a rebuilding procedure. Bet365 was issued a permit from the Malta Gaming Authority (MGA) in 2015 and enrolled another property administration organization in Malta before the end of last year in anticipation of setting up its new Malta impression.

The move comes in spite of Gibraltar’s legislators and gaming controllers having initially demanded that it would be ‘the same old thing’ post-Brexit and the Gibraltar government’s current confirmation that neighborhood organizations would hold access to the UK showcase in a post-Brexit economy, at any rate until 2020.

UK gaming administrator Paddy Power Betfair shut its Gibraltar office one year back, demanding that it wasn’t in light of the Brexit vote yet just piece of the revamping of the merger of the already particular activities of Paddy Power and Betfair.

Notwithstanding the monetary lift, Bet365’s entry will be a much needed development in story for Malta’s gaming industry, which has been deluged with negative press lately in regards to some MGA-authorized online administrators’ associations with unlawful activities in Italy.