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Internet Gambling Companies Relocate

In mere days the 2005 Gambling Act in the UK takes effect and hundreds of online casino companies will be affected by the shift in regulations – and specifically by the UK “white list.” The Department of Culture, Sport and Media (DCSM ) announced that the “white list” will determine the jurisdictions that are allowed to participate in online casinos advertising in the UK. The Gambling Act has meant changes for many companies affiliated with the internet gambling and betting industry, but once the DCSM announced that it planned to severely cut back on the jurisdictions permitted to advertise in the UK, online casinos companies began to flee those jurisdictions not approved for the list and relocate to safer waters. For Malta, this move has been great, for other jurisdictions, it could mean the loss of significant revenue.

The new UK regulations take effect on September 1, 2007, and Malta is anticipating that more than 100 companies will switch licensing to Malta by the end of the month. A Chief Executive at The Lotteries Gaming Authority, Mario Galea, comments on the surge of online casinos moving licensing and operations to Malta, "Malta's becoming the natural hub of online gaming."

Many of the online casinos that are moving operations currently reside in jurisdictions that received notice a few weeks ago that their regulatory regime was not in line with UK standards and therefore the jurisdiction was not approved for the white list. The Netherlands Antilles didn’t make the “white list,” and though the Netherlands immediately drafted new regulations and legislations for online casino licensing, the UK will not reconsider the jurisdiction until the changes are actually in effect.

Galea commented on why the online casinos are moving to Malta, "Our regulations are very much in line with the EU's, and we have shown that we are capable of protecting operators - so it won't be long before the physical operations move to Malta." And though many companies are switching licensing to Malta, Galea expects that Malta will truly benefit once the online casinos actually relocate to the island.