he MGA boss will be in attendance at this year's SAGSE, which is taking place in Buenos Aires between November 7 – 9, to share his regulatory experience with local gaming authorities. Speaking ahead of the exhibition, Cuschieri said: “The LatAm market is an interesting one and since we found the right opportunity to visit Argentina for the first time, I thought it was good to have a look at how the market is evolving there. It is always inspiring to learn about new markets and related experiences."
When asked about his views on the regulatory landscape in LatAm, Cuschieri didn't hesitate to praise Colombia's gaming authority, Coljuegos, for its efforts in moving the industry forward. “We support all efforts made by governments to open up the gaming market underpinned by robust and transparent regulation which protects consumers. The efforts by the Colombian authorities in this respect are commendable and should serve as an example for other LatAm jurisdictions," he noted.
It's worth stressing that Coljuegos president, Juan B. Perez Hidalgo, confirmed last week that the regulator plans to issue four more online gaming licenses in the coming weeks, in addition to the two that have already been granted by the regulator.
With fresh gaming legislation and a newly launched Licensee Relationship Management System, which is set to transform the way the MGA interacts with its current and prospective licensees, Malta continues to strengthen its position as one of the world's most innovative, cutting edge and forward-thinking gaming jurisdictions. "We received lots of positive feedback on our new Licensee Management System from all stakeholders and we will soon be launching additional features as we strive to become an 'all on-line' regulator," Cuschieri told Yogonet.
While LatAm governments cite consumer protection as one of the reasons for not embracing online gaming, the MGA chairman believes prohibition in gambling doesn't work. “I believe that prohibition drives the industry underground hence creating black markets. The best way to protect consumers is to put in place robust regulatory frameworks with effective enforcement mechanisms and responsible gaming legislation to protect consumers and establish the right structures to govern and supervise effectively. Integrity is key when it comes to any regulatory system and in gambling regulation, integrity is mission critical,” he argued.
In the coming months, the MGA will focus its efforts on the implementation of the new gaming legislation and the new Fourth Anti Money Laundering Directive's supervisory mechanisms. In addition to this, Cuschieri said he's working on other projects that will see the MGA “raising the bar in its regulatory performance”.