Malta Gaming Commission
Malta Gaming Commission – Requirements to qualify for an online gambling license
|To qualify for an online gambling license, an applicant must be a body corporate established in Malta in terms of the Companies Act. Any person wishing to apply for the online gambling license shall apply in writing to the Lotteries & Gaming Authority. The Lotteries and Gaming Authority shall provide required forms for the applicants to fill. The forms shall include information concerning the following:
(i) personal background information;
(ii) financial information;
(iii) participation in legal activities, including but not limited to, any interest or equity in any other commercial activity;
(iv) criminal record information;
(v) information concerning all pecuniary, equity and other interests in the applicant; and
(vi) any other information required by the Authority, for every director, key official and chief executive officer of the applicant and for every shareholder with five per centum or more ownership of, or controlling interest in the applicant.
Apart from the above, the Authority takes into regard the character of the persons vested in the business, the reputation of the persons, their current financial position and background information of their business along with shareholders (if any information) etc.
Malta Gaming Commission’s Conditions of granting a license
In granting a license the Lotteries and Gaming Authority may subject the granted license to conditions as it may deem appropriate, and after the grant of such license the Authority may from time to time vary or revoke any condition so imposed, or impose new conditions. If the Lotteries and Gaming Authority of the Malta Gaming Commission deems necessary to impose new conditions or modify the existing conditions, it will do so by a written notice informing the licensee of its intention. Unless the licensee has requested the condition himself, a time period of twenty days is given to the licensee to “show cause” the reasons why the modified condition or the new condition should not take effect.