Malta MGA sets new benchmark classifying start-ups

Updating the market, the Malta Gaming Authority (MGA) has amended several provisions of its ‘Gaming Licence Fee Regulations (2018)’ updating conditions and criteria related to its MGA legislative frameworks.

Publishing its 2019 amendments, the MGA focuses on the definition of start-up businesses working within its jurisdiction, in which the regulator has expanded the criteria and requirements for incumbents to be classified as start-up enterprises.

Establishing a new ‘qualifying benchmark’, the MGA will recognise start-ups as enterprises that have generated less than €10 million from a specific business vertical within a period of 36 months prior to its MGA application.

Under previous benchmarks, the MGA would recognise start-up as any business that generates less than €10 million from gambling-related activities, declared over a period of a financial year.

“This amendment is aimed at ensuring that undertakings classified as start-ups are truly such, whilst simultaneously not prejudicing corporate groups that were in the business many years back and wish to benefit from such an incentive by starting up again,” it explained.

Closing its update, the MGA states that its amendments will come into effect from 1 January 2020.

Check Also

SBC Digital India

SBC Digital India: Where gaming and technology meet

Next week’s SBC Digital India conference and exhibition is set to deliver an in-depth examination …

Japanese government looks to put brakes on Tokyo 2020

The Japanese government has ‘privately concluded’ that it will be forced to cancel the 2020 …

Argyll revives SportNation dormant accounts with Enteractive  

Argyll Entertainment has partnered with ‘customer reactivation specialist’ Enteractive to revive its ‘dormant player accounts’. …