Connect with us
mga-publishes-voluntary-esg-code-of-good-practice mga-publishes-voluntary-esg-code-of-good-practice

Compliance Updates

MGA Publishes Voluntary ESG Code of Good Practice

Published

on

Reading Time: 3 minutes

 

The Malta Gaming Authority (MGA) has introduced the Environmental, Social and Governance (ESG) Code of Good Practice for the remote gaming sector.

This ESG Code seeks to serve as an instrument for self-regulation, helping remote gaming companies align with best practices and maintain a position that allows them to effectively meet the evolving expectations of key stakeholders in the sector.

While this ESG Code is voluntary, all MGA licensees are strongly encouraged to adopt it to better demonstrate their commitment to sustainability and to continue improving the ESG standing of the industry.

Addressing a press conference, MGA CEO Carl Brincat said that across industries, a trend has emerged towards greater transparency, disclosure, accountability and active engagement in addressing the pressing social and environmental issues of our time.

“The MGA has always strived to be at the forefront of regulatory innovation and progress. We have been working not only to supervise the gaming industry, but also to nurture it, to foster a space where operators can thrive, while ensuring that the welfare of society remains paramount. Our ESG Code represents our commitment to this,” Dr Brincat said.

Minister for the Economy, EU Funds and Lands Silvio Schembri said that the aim of the press conference was to highlight the importance for the remote gaming sector to voluntarily use the ESG tool that is increasingly shaping the business and investment landscape, as well as our approach to social and environmental challenges.

“All businesses should embrace tools to reduce risk and transform successfully, and when it comes to remote gaming, one of the tools is using ESG metrics.

“The ESG code will serve as an instrument for self-regulation, helping remote gaming companies align with best practices and maintain a position that allows them to effectively meet the evolving expectations of key stakeholders in the sector,” Minister Schembri said.

The ESG Code is the culmination of a journey that involved four extensive stages: the peer review and research phase, materiality assessment, stakeholder interviews and licensees’ consultations. This extensive process has resulted in a final Code that is well-informed and reflective of the industry’s ESG priorities and stakeholder expectations.

Key Features of the ESG Code – a Balanced Approach

The Code identifies 19 ESG topics, derived from the materially assessment, organised into three categories: Environmental, Social and Governance, providing a strategic framework for remote gaming companies to focus their reporting efforts effectively.

Two Tiers of Reporting: The MGA will recognise companies’ efforts with two levels of reporting, Tier 1, a basic ESG standard, and Tier 2, a more aspirational level, to ensure sustainability efforts are focused and impactful.

Flexible approach for certain disclosures: Core disclosures have been defined, while reporting entities will have the flexibility to choose optional disclosures;

Streamlined Reporting: The Code includes several ESG disclosures already required under existing reporting frameworks to streamline reporting and reduce administrative burden; and

Focus on ESG reporting: The emphasis is on ESG reporting, rather than setting specific ESG targets.

An MGA ESG Code Approval Seal

Industry consultation revealed a strong desire for formal recognition by the MGA. To meet this demand, the MGA ESG Code Approval Seal will be awarded to entities that report under this Code, showcasing their commitment to ESG. Different seals will be awarded to entities that meet Tier 1 or Tier 2 reporting requirements.

How the ESG Code will Work in Practice

The Code will be a standalone voluntary submission, separate from other ESG disclosures made by the reporting entity to the MGA or other bodies. Reporting will be confidential, and the MGA will launch an online tool to facilitate the process. Additionally, the ESG Code will align reporting periods with the financial year of reporting entities. The inaugural reporting year will commence in 2023, with the submission deadline set for the third quarter of 2024.

Anastasia Rimskaya

Aviatrix receives certifications in Brazil

Published

on

aviatrix-receives-certifications-in-brazil

The award-winning crash game Aviatrix has received certification for Brazil’s online gaming market, ensuring full compliance in the market.

Aviatrix has been granted full Federal Certification to offer its games via licensed operators in the country. Meanwhile, Aviatrix has also acquired a dedicated certification for the state of Paraná.

This means Brazilian players can now enjoy the most innovative crash game on the market –  one that has already gained a loyal following across Latin America.

Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: “This is a huge milestone for Aviatrix. Brazil is one of the most exciting, newly-regulated markets in the world. There is massive demand for high-quality content, and that’s why we know Aviatrix is going to thrive. We’re looking forward to bringing the game to the country via some world-class partners. Get ready for takeoff.”

Aviatrix has been rapidly expanding in Latin America over recent months, including in Peru and Colombia.

The company was also named ‘Rising Star in Casino’ at last year’s SBC Awards Latinoamérica.

The post Aviatrix receives certifications in Brazil appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Africa

Readen Holding Corp Finalises Acquisition of Morrich Lottery Limited

Published

on

readen-holding-corp-finalises-acquisition-of-morrich-lottery-limited
Reading Time: < 1 minute

 

Readen Holding Corporation, a venture capital specialising in Fintech, Digital Payments and E-commerce, has announced the successful signing of the final agreement to acquire an 80% controlling stake in Morrich Lottery Limited, a fully licensed lottery operator in Nigeria. This milestone marks RHCO’s official entry into the African gaming market — one of the fastest-growing and most promising sectors globally.

With the closing of this acquisition, RHCO now holds active licenses in Nigeria for lottery, sportsbook and casino operations, unlocking access to an estimated $2.5 billion gaming market projected to grow over 9% annually through 2030. This move positions RHCO to become a major international force in regulated gaming, entertainment and fintech infrastructure.

Ridzky Berg, CEO of RHCO, said: “This is more than an acquisition — it’s a strategic launchpad into one of the most dynamic gaming markets in the world. Nigeria’s youthful population, expanding internet access, and growing appetite for digital gaming make this a prime market. With our proven fintech backbone and seasoned leadership, we’re ready to set a new standard for integrated, secure, and user-friendly gaming platforms across the region.”

The post Readen Holding Corp Finalises Acquisition of Morrich Lottery Limited appeared first on European Gaming Industry News.

Continue Reading

Compliance Updates

Swedish Regulator Imposes Fine of SEK12M on Videoslots

Published

on

swedish-regulator-imposes-fine-of-sek12m-on-videoslots
Reading Time: 2 minutes

 

The Swedish gambling regulator, Spelinspektionen, has fined Videoslots SEK12m (£937,016) for failing to help customers better manage their gambling behaviour when it had reason to do so.

The regulator said that the company did not take sufficiently effective measures to intervene on excessive gaming and “did not act promptly enough.”

The fine, along with a formal warning, comes after a Spelinspektionen investigation into Videoslots’ customer activity in spring last year. The regulator found that the company breached its duty of care obligations.

Twelve customers’ gaming behaviour was analysed, with the regulator concluding that their gambling patterns, deposit behaviours and “significant losses” were among the “multiple indicators” that the customers engaged in excessive gaming.

A number of the 12 customers returned to Videoslots’ platform to play “multiple times” during the day or play “continuously for many hours.”

The regulator said all of the customers had “very high deposit limits.” Three had limits of SEK1m (£78,164), one had a limit of SEK4.5m (£351,912) and another player’s limit was SEK300m (£23.5m).

All customers deposited “large amounts” during the review period, Spelinspektionen said, including one who deposited SEK1.8m (£140,785) and another who deposited SEK1.3m (£101,721).

“Several customers exhibited a deposit pattern where withdrawn amounts were deposited again shortly after being withdrawn,” the regulator said.

“For several customers, there were also a large number of deposits in a short period. Some customers regularly made multiple deposits per gambling day… and one customer had days with up to 28 deposits.”

“In light of the above, Spelinspektionen assesses that all the customers have engaged in excessive gambling during the review period,” the regulator concluded.

“The company has pointed out that individual indicators, on their own, may not necessarily be signs of excessive gambling. According to Spelinspektionen, all the above-mentioned indicators are signs of excessive gambling, and the overall assessment of all indicators forms the basis for the conclusion.”

The post Swedish Regulator Imposes Fine of SEK12M on Videoslots appeared first on European Gaming Industry News.

Continue Reading

Trending