26.05.2020
The outbreak of Coronavirus in Malta in early March has since left numerous effects on the Maltese economy, forcing people to change the way they live and the way that businesses operate, paving way to the digital world. Although iGaming is an online industry, it still faces a number of challenges, and throughout the past weeks, guidelines have been set by the Malta Gaming Authority in this respect. This article will briefly examine what changes had to be introduced to the iGaming world.
Sports
Since sporting events were completely halted, sports betting was effected tremendously especially since the most awaited sport events of 2020, Olympic Games, had to be postponed. However, there was an immediate reaction to the change in the sports world, by shifting to esports and taking it to the next level. Operators had to adjust to this situation by adding fraud checks to make sure that the betting integrity is untouched by ensuring, amongst others, that matches are broadcast in real time and that everyone should be made aware that there could be the possibility of pre-set delays.
Conferences
iGaming conferences were in every iGaming operators’ calendar on a yearly basis. Due to the worldwide travel restrictions and social distancing measures, these couldn’t take place as originally planned, forcing organisers to find alternative ways and create new opportunities. For the first time, our team at Fairwinds Management Limited and iGaming License Malta will be attending the first iGaming virtual conference: SiGMA Asia Focus in June.
Deadlines
Due to this extraordinary situation that we are all living in, the Malta Gaming Authority extended the deadline for submission of the audited financial statements envisaged in article 41 to end of October 2020. This applies to licenses whose last concluded financial year ended between December 2019 and March 2020.
Assistance
As announced by Health Authorities and the Government, Malta is now in a transition phase by easing the measures that were announced weeks ago, starting off with the re-opening of lotto booths, operating in a new normal. Fairwinds Management Limited and iGaming License Malta are here to help you with anything related to iGaming and corporate services. For more information or assistance, you can get in touch with one of our Directors, Ms. Charlene Sciberras on csciberras@fairwindsmanagement.net
