Malta Gaming Authority introduces amendments to ensure start-ups are truly such
The Malta Gaming Authority (MGA) announced this week that several amendments have been introduced to the Gaming Licence Fees Regulations of 2018
On 15 October 2019, the publication of L.N. 266 of 2019 confirmed the introduction of several amendments to S.L. 583.03 of the Laws of Malta.
For a licensee to be considered a start-up undertaking, it must cumulatively satisfy a list of criteria established by the Regulations, which include amongst other criteria, requirements relating to maximum amounts of revenue from the same or related sector. Following this amendment, in order for an applicant to qualify as a start-up, it and its corporate group must not have generated more than €10 million of revenue in the 36 months prior to application. This amendment is aimed at ensuring that undertakings classified as start-ups are truly such, whilst simultaneously not prejudicing corporate groups that were in the business many years back and wish to benefit from such an incentive by starting up again.
Such amendments will come into effect starting 1 January 2020.
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