The Malta Gaming Authority (MGA) has reinforced its commitment to regulatory cooperation by renewing its Memorandum of Understanding (MoU) with the Alderney Gambling Control Commission (AGCC). The initial MoU was signed in 2013, marking the beginning of a collaborative relationship between the two regulatory bodies. Recognizing the international nature of online gambling, the renewed agreement aims to foster cross-border cooperation in regulating the evolving gaming landscape.
Regulatory Responsibilities:
Both the MGA and AGCC serve as regulators in their respective jurisdictions, overseeing the licensing process, supervising brand operations, and addressing legal infractions within the online gambling industry. The renewal of the MoU reflects their joint commitment to maintaining a safe and responsible gaming environment.
Statements from Regulatory Leaders:
Carl Brincat, CEO of the MGA, emphasized the significance of the renewed MoU, stating, “The renewal of the MoU with the AGCC continues to reaffirm our shared commitment towards supervising a safe and responsible gaming ecosystem across the board.” Andrew Gellatly, Executive Director of AGCC, echoed this sentiment, expressing the regulator’s anticipation to strengthen collaboration for the benefit of players and stakeholders.
Nature of the MoU:
While a Memorandum of Understanding is not legally binding, it serves as a formal declaration of intent between equal parties, outlining a common understanding and framework for cooperation. In the context of online gambling regulation, such agreements facilitate information exchange, coordinated efforts, and a harmonized approach to industry challenges.
AGCC Overview:
Established in May 2000, the AGCC issues over 70 licenses and collaborates with more than 20 game providers. The regulator primarily deals with online gambling, issuing eGambling Licences, and also engages with hosting providers and core service provider associates. Companies holding AGCC licenses include well-known entities like Sky Bet and Sky Casino, Greentube, NetEnt, Playtech, and Kitty Bingo.
Continued Collaboration in the Industry:
The renewal of the MoU between the MGA and AGCC reflects the ongoing need for collaborative efforts in the dynamic and global landscape of online gambling regulation. As both regulators navigate the complexities of the industry, this cooperative relationship aims to enhance regulatory effectiveness and ensure the highest standards of integrity and responsibility.
The extension of the Memorandum of Understanding between the Malta Gaming Authority and the Alderney Gambling Control Commission underscores the industry’s commitment to collaborative and proactive regulation. As the online gambling landscape continues to evolve, such agreements play a crucial role in fostering a unified approach to address emerging challenges and maintain the integrity of the gaming ecosystem.