Malta Gaming Authority Seeks Licensee Input on Draft ESG Code of Good Practice

The Malta Gaming Authority (MGA) has begun consulting with its licensees on a draught version of its Environmental, Social, and Governance (ESG) code of good practice. The consultation’s goal is to collect comments and input from licensees in order to ensure the code’s continued development and effectiveness. The MGA is taking this step in reaction to anticipated ESG laws, including as the EU’s Corporate Sustainability Reporting Directive, which will have an influence on the gaming industry. The draught code’s goal is to prepare licensees for these regulatory developments while also encouraging appropriate business practices.

Since 2022, the MGA has been actively working on the development of the ESG code. In January 2023, licensees were invited to engage in an ESG survey to aid in the development of the code. The regulator emphasized the importance of this guideline in light of upcoming ESG legislation and the voluntary ESG reporting framework in existence in Malta. The draught code went through a six-month development process that included peer reviews, research stages, materiality evaluations, and stakeholder interviews. It has now reached the final stage, with stakeholders invited to provide feedback on the final version of the code.

Initially intended for online gaming companies, the MGA is looking into expanding the ESG code to encompass the land-based sector in Malta. This expansion would strengthen the regulatory environment and promote responsible practises throughout the country’s gaming industry. The MGA intends to provide complete ESG standards and compatibility with the expanding regulatory landscape by considering the inclusion of land-based enterprises.

The MGA took action throughout 2023, cancelling many licenses, including those of MKC Limits, Totup System, and BetDino. The most common reason for these cancellations has been nonpayment of fees. These actions indicate the MGA’s commitment to enforcing financial compliance and preserving the gaming industry’s integrity.

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