The Minister for the Economy, Investment and Small Business along with the Malta Gaming Authority has announced changes to the Remote Gaming Regulations, by means of the publication of the Legal Notice 131 of 2016. Some of the key changes are as follows:
1. Under the amendments, a licensee offering RNG games, must make sure that the games will have an RTP of a minimum of 92% or more of the money wagered. For the purposes of calculating the percentage, the licensee is required to consider transactions that occurred from the 1st January 2015 onwards. The Authority may also issue directives which will regulate the way that licensees are required to report and comply with this amendment and it may yet decide to exempt certain types of game from this requirement.
2. The licensee is required to make available to all players, any information relating to commission or fees held by the licensee. This can include the amount of commission held by the licensee or charged to the player.
3. The Authority will have the right to require a licensee to connect its systems to a monitoring system (operated by the Authority) and to maintain the connection at all times. The monitoring system will be designed to send and receive data to the licensees system and licensees will be obligated to modify and upgrade their systems to ensure compatibility with the monitoring system of the Authority. The type of information that will be received by the monitoring system will include information relating to games, players and financial data that is required by the Authority to fulfil its objectives at law. It will also be used to ensure compliance by the licensee with the Act and that applicable laws, legislations and regulations regarding the prevention of money laundering are being adhered to.
The above are just a few of the amendments that have been published in the Legal Notice. To find out more about how these changes will directly affect your business, please contact Robert.Zammit@whpartners.eu