Spelinspenktionen and the MGA Team up and Sign MoU

Discussion in 'Gambling News' started by Marina, Mar 8, 2019.

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  1. Marina

    Marina Administrator Staff Member

    The gambling regulators in Malta and Sweden, the Malta Gaming Authority and Spelinspektionen have joined forces to create a framework for enhanced cooperation between the countries. They have entered into a Memorandum of Understanding to further improve the authorities’ mutually common values and public policy objectives.

    The aim of the Memorandum of Understanding, as published by the Spelinspektionen, is to facilitate the on-going communications between the two countries and the gambling authorities, and to support effective information sharing on subjects of mutual interest and policy areas. They have also agreed to provide mutual operational assistance, the best possible, on a continuous basis, of course, in accordance with both their regulatory policies and procedures.


    The Statements by the MGA and Spelinspektionen

    As expected the newly re-regulated Swedish gambling market has taken some actions in the past few months, since 1st of January, 2019. This is when the market reopened. But during summer, when they invited operators to apply for a license, they received 95 applications and issued licenses to close to 70 of them. Having their hands full in the last few months of 2018, they have decided to sign a mutual understanding agreement or Memorandum of Understanding, and collaborate with the Malta Gaming Authority.

    Heathcliff Farrugia, the Chief Executive Officer at the Malta Gaming Authority expressed satisfaction on the Memorandum of Understanding agreement. He stated that the Malta Gaming Authority has always been seeking to nurture relationships with other fellow international regulatory bodies and authorities as they firmly believe that such partnerships are key to reaching authoritative objectives, in the area of remote gaming especially, which is fundamentally cross-border in nature.

    Farrugia emphasized that the Memorandum of Understanding which they signed with Spelinspektionen is an important step forward towards achieving both their respective regulatory goals in areas of mutual interest, especially since the Spelinspektionen and the Malta Gaming Authority share a list of a significant number of operators licensed by both of them. MGA’s CEO closed his statement saying that they are eager to start the mutually beneficial journey with the Spelinspektionen.

    On the other hand, Camilla Rosenberg, the Director General of Spelinspektionen stressed the importance of this agreement, saying that many of the operators who have received a license to operate on the Swedish market also have a license and technical equipment in Malta. She said that by fostering the relationship with Malta and opening communication channels between the two authorities, they will become stronger in their supervisory activities. She closed her statement saying that the Memorandum of Understanding, signed on 4th of March, 2019, is the beginning of long-term, broad cooperation and their plan is to initiate collaborations with other gambling authorities across Europe.


    What the Memorandum of Understanding Means for Sweden and Malta?

    The Swedish gambling market reopened just this year, on the first day of 2019. The re-regulated market allows for international operators to apply for a license to operate in Sweden. Most of the operators who received a license for remote gambling operations in Sweden are already licensed by the Malta Gaming Authority, but there are many others licensed by the UK Gambling Commission or the Isle of Man, for instance.

    Malta, on the other hand, has recently introduced changes to its gambling regulations, simplifying the application processes. The Malta Gaming Authority has replaced its old multi-license system, leaving operators to apply for only two licenses, one for B2C gambling and betting services and one for B2B services.

    Since they have both licensed a significant number of same operators, they could now team up in better monitoring and observing those operators. With excellent communication, they could both find irregularities and have better control over operators and resolve problems in a quicker and easier way.

    Considering Spelinspektionen is somewhat less experienced in remote gambling regulations and has licensed nearly 70 operators, this agreement with Malta could be very useful for the Swedish regulator to get up to speed with other major international regulators. For instance, during the licensing processes, Spelinspektionen gave LeoVegas, Casumo and GVC licenses with only two-year duration, instead of five, because in that time, the UK Gambling Commission has fined these three operators for failing to protect players from gambling harm and misleading them with bonus offers. Therefore, the agreement with Malta could be really beneficial for the Swedish regulator in similar future cases.
     

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