Key points:
- The MGA has released its full annual and financial report for 2024
- Despite an increase in expenses, revenue and operating surplus for the organisation rose year-on-year
- The regulator granted 17 new licences and imposed 25 fines – up from the 19 fines issued during 2023
The Malta Gaming Authority (MGA) has released its full 2024 market and financial annual report, highlighting key figures from the market including regulatory and licensing statistics, resident gaming habits and player protection initiatives.
Indeed, the report covers a range of key topics highlighted by the regulator pertaining to regulatory activity on the island. Elsewhere, the MGA has also chosen to highlight several financial figures relating to the organisation’s revenues, expenses, total assets and liabilities. This latest report falls in the wake of the release of its 2023 ESG Code Insights Report last month.
MGA financial overview
Observing the key figures from the financial section of the MGA’s latest report, the regulatory body has posted a revenue figure of €84.1m ($96m), a rise of 2.5% year-on-year. This sum paired with an expenses figure of €13.4m – up 2.3% compared to the year prior – to generate an overall operating surplus of €70.8m – up from €68.9m recorded during 2023.
Additionally, the organisation reported a slight downturn in total assets, which fell from a figure of €21m during 2023 to €20.9m during 2024. Net cash flows from operating activities, however, were subject to a marginal increase – rising by 0.3% to €70.7m.
Regulatory highlights
Elsewhere, it was a busy year for the MGA’s regulatory responsibilities – with the body issuing a total of 17 new licences from a total of 28 applications, alongside assisting in the renewal of a further 12 licences from pre-existing licensees. The supervisory council also reviewed a total of 30 ongoing gaming licences in the nation, leading to the subsequent rejection of two licensed bodies from the market.
The AML/CFT arm of the MGA also underwent 43 compliance investigations – with the Maltese Financial Intelligence Analysis Unit (FIAU) issuing €185,000 in penalties in corroboration with the MGA. Overall, the regulatory body issued 25 financial penalties – up from the 19 issued in 2023 – amounting to €306,250 during 2024, cancelling a total of eight licences with an additional two facing suspension.
Player protection & RG initiatives
Pertaining to the MGA’s player protection efforts – during 2024 the organisation resolved 3,372 requests for assistance from players in Malta, conducting an additional 40 responsible gaming website checks and investigating 83 cases of websites publishing misleading content.
As also specified by the MGA, the regulator was the recipient of 244 suspicious betting reports submitted by its licensees during 2024 and participated in a total of 30 overseas or international investigations.
Good to know: An MGA licence is highly coveted in the industry and often cited as one of the highest compliance-related certifications obtainable worldwide
CEO comments
Reflecting on the year, MGA CEO Charles Mizzi said: “While the Authority already functioned effectively in many respects, it was important to take the time to observe, listen, and identify areas where we could enhance our operational efficiency and long-term sustainability. This period of reflection and strategic alignment laid the groundwork for targeted improvements aimed at sharpening the MGA’s agility, responsiveness, and ability to support an evolving industry landscape.
“One of my early priorities was to strengthen the MGA’s operational resilience. We recognise that our responsiveness to the industry is critical, and with this in mind, we conducted a comprehensive review of our internal processes. This allowed us to identify inefficiencies and areas of improvement. As a result, we have begun streamlining workflows to foster a more agile and responsive organisation.
“At the same time, we placed strong emphasis on strengthening our human resource capacity, recognising that resilience also lies in our people. We invested in ensuring that the Authority is equipped with the right skills and talent to support operators and meet the ever-evolving demands of the gaming landscape.”
