Click Now!

Online Casino Firms Show Interest in Malta

The Malta Times reports that 27 international gambling firms have decided to shift their operations to the Island. It seems that Malta is enjoying the bloom of the global online gambling market with big industry names under its jurisdiction. Currently there are 84 online casino firms working under the jurisdiction of Malta and there are 76 additional firms showing interest. So, what is so appealing in Malta’s jurisdiction you ask? The answer is very simple. The United Kingdom Gambling Commission has decided that only gambling firms that work under an agreed number of jurisdictions will be allowed to advertise their online casino operations. Malta is one of those agreed upon places.

The United Kingdom has release an advertising “White List” of the jurisdictions that have been approved. If you’re online casino business doesn’t operate under a name mentioned on that list, you will not be able to advertise your gambling operations to the British public. Obviously, this was a big contributor to the firms’ sudden interest in Malta. The United Kingdom is interested in jurisdictions that proved they can regulate the gambling operations of their licensees, an ability that Malta has already shown. “Our regulations are very much in line with the EU’s, and we have shown that we are capable of protecting operators – so it won’t be long before the physical operations move to Malta,” said a spokesperson.

Malta’s share of online gambling business was damaged by the enactment of the Unlawful Internet Gambling Enforcement Act almost a year ago, as many other jurisdictions were affected. However, the United Kingdom market is now remedying what the American market deprived from Malta. It doesn’t really matter what countries are gambling online as long as people are having fun at the online casinos and gambling firms need a place to operate from.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

COMMENTS

comments