The gambling regulators of Malta and Sweden initiate collaboration to further “public policy objectives and mutually common values”
The Malta Gaming Authority and Spelinspektionen have signed a Memorandum of Understanding to enhance their cooperation and further their “public policy objectives and mutually common values”, the two regulators said in a joint statement published Tuesday.
The aim of the MoU is to improve the close communication between the regulatory bodies of Malta and Sweden and to support their effective sharing of information on matters they both have interest in.
Sweden’s new gambling law took effect on January 1, 2019, liberalizing the local market and opening it to international operators. Most of the gaming and betting companies that have obtained licenses from Spelinspektionen over the course of the past several months are also MGA licensees, and many of them are based in Malta.
Malta itself recently introduced changes to its Gaming Act. Among the most important amendments in the nation’s gambling law involved simplifying the licensing process for interested online gambling companies and replacing the multi-license system with just two types of licenses – one for the provision of B2B services and the other for B2C gaming and betting services.
The MoU between the MGA and Spelinspektionen took effect Monday, March 4. The two regulatory bodies have also agreed to exchange the best possible operational assistance on a continuous basis and in accordance with their regulatory policies.
”Eager to start this mutually beneficial journey”
The MoU with the MGA is the first of what Spelinspektionen hopes would be a series of collaborations with European counterparts. Commenting on the latest announcement, Camilla Rosenberg, Director General of the Swedish Gambling Authority, said that by opening communication channels between the two gambling regulators they can both become stronger in their supervisory activities. Ms. Rosenberg went on to say that they plan to initiate more collaborations with regulators in other European countries.
Spelinspektionen has issued nearly 70 gaming and betting licenses since the beginning of the licensing process last fall. As mentioned earlier, a number of the companies that have entered Sweden’s newly liberalized digital gambling space are licensed in Malta, as well, and many of them have their technical equipment based in the Mediterranean island nation.
MGA Chief Executive Officer Heathcliff Farrugia said that relationships with international regulatory bodies, particularly in the area of online gambling which is cross-border in nature, are the key to reaching their regulatory objectives.
Mr. Farrugia went on to say that the MoU with Spelinspektionen is an important step toward achieving their respective goals in vital areas the two regulators share interest in, particularly given the fact that the MGA and the Swedish Gambling Authority share a significant number of licensees.
Follow us on Facebook and Twitter to stay up to date on the day’s top casino news stories.
