Gambling is one of the most productive industries worldwide, Malta making no exception. Moreover, gambling activities in Malta have increased a lot during the last few years when the Government enabled a new law for carrying out this type of activities. Also, most gambling operators in Malta have extended their businesses in other EU countries by opening online gambling facilities.
Our lawyers in Malta can offer information on the Gaming Act.
Types of gambling activities in Malta
The Gaming Law provides for various types of gambling activities a Maltese company can offer. These are:
- – lottery;
- – amusement machines;
- – casino games;
- – bingo.
Each type of activity is subject to various licensing requirements, which is why the Malta Gaming Authority (MGA) has enabled various licenses in order to open gambling facilities in this country. Even if there are four classes of licenses for carrying out gambling activities in Malta, operators may apply for three of them:
- – the class 1 license, which is for casino and online lottery activities;
- – the class 2 license, available for betting activities;
- – the class 3 license, available for betting exchange and peer gaming activities.
The first step to open a gambling facility is to register a company with the Maltese Companies Registrar and then apply for the proper type of license.
You can also watch the video below for information on gaming activities in Malta:
How to open a gambling facility in Malta
Those seeking to carry out gambling activities in Malta are subject to strict regulations enforced by the MGA. First of all, a company must meet the “fit and proper” criteria imposed by the Authority. Secondly, the company must have a solid business plan which will also be subject to serious evaluation. Then, the gambling operator must ensure the share capital of the company in accordance with the type of license it applied for. A company applying for a class 1 or 2 license must deposit a share capital of 100,000 euros, while a class 3 license requires a minimum capital of 40,000 euros. Maltese companies operating in the gambling industry sector may also apply for several licenses and the capital required for multiple operations is maximum 240,000 euros.
For information about the taxation of gambling activities, please contact our law firm in Malta.