MGA launches consultation on ESG code

The consultation aims to gather input and feedback on the code, so that it can be further developed.

The MGA said that this code has been in development since 2022. In January 2023, the MGA invited licensees to partake in a survey about ESG matters in preparation for the code’s development.

The regulator explained that it is being created in order to brace licensees for upcoming ESG legislation, which includes the EU’s Corporate Sustainability reporting directive. Malta’s government already has a voluntary ESG reporting platform in place.

The draft version of the code took six months to develop. This consisted of three stages – the peer review and research stage, materiality assessment and stakeholder interviews.

Following this, the code has now entered its final round of feedback from stakeholders.

While the proposed code will only apply to online gaming businesses, the MGA said it is exploring the possibility of extending it to the land-based sector in Malta.

Extending the code

The code was initially supposed to apply to remote gaming companies only. However, the MGA is considering extending it to Malta’s land-based sector.

Throughout 2023, MGA has cancelled a number of licences, including those belonging to MKC Limits, Totup System and BetDino.

A common theme among most of the cancellations is fee nonpayment.