[UPDATED] Tighter controls on gambling machine operators from January

THE Gambling (Gaming, and Betting) Control Act – designed to prevent money laundering and tax evasion, and to protect the public from dishonest operators – is expected to be proclaimed in January.

There are provisions in the act for funds earned by the Gambling (Gaming, and Betting) Control Commission (GCC) for the treatment of people addicted to gambling.

Delivering the 2024/2025 national budget on September 30, Finance Minister Colm Imbert said the GCC had made “significant progress” in establishing a regulatory framework, having recently concluded public consultations.

Imbert said the commission is now “refining the feedback received,” and will enter a transitional period after the act is proclaimed, when “all gaming establishment operators and owners of gaming machines, under the Liquor Licences Act, must notify the commission of their existence.”

Imbert said, “Once this information is collected, the commission will advise of the applicable licences as it applies to their areas of operations, Imbert said, adding that they will then pay the relevant licensing fee.”

The collection of licensing fees for gaming and gambling is expected to begin in the second quarter of fiscal 2025.

Imbert said the commission has also recruited senior leadership and is engaged in building its “key human resource infrastructure.

“This strategic human capital development aims to arm the commission with the technical expertise to audit, manage, and provide up-to-date resources necessary for a flexible and dynamic organisation.

“Additionally, significant investments in infrastructure and technological advancements have been undertaken, including procurement of essential systems for finance and gaming operations.

“These implementations, coupled with staff training, robust stakeholder engagement and the establishment of internal governance structures, collectively enhance the commission’s capacity for effective oversight and compliance within the gambling sector, through an effective licensing regime.”

He added that the commission has initiated procurement of “highly recommended due diligence software,” through selected international companies, “where assistance will be given to demystify corporate structures.

“In this context, it refers to the identification of beneficial ownership, which involves clarifying and simplifying the often intricate relationships and hierarchies within corporations to ensure transparency, regarding who ultimately controls or benefits a company or gambling house.

“Consequently, this will inherently impact recipients of various licences, ensuring that such recipients are not agents of criminal conduct or activities.”

Funding for treatment,

rehab for problem gamblers

While Imbert delivered his presentation, the GCC released a statement “noting the concerns and questions raised by stakeholders regarding the draft gambling regulations” under the act, and advised that further consultations were impending.

The GCC sought to assure stakeholders that the regulations were part of a “broader, ongoing effort to create a gambling ecosystem that is fair, inclusive, and sustainable.”

It said, “As part of our collaborative approach, we are moving forward with a series of strategic dialogue sessions, where we will discuss the comprehensive feedback, we have received and address the questions and concerns from stakeholders.

“It is our intention to use these discussions as a platform for refining the regulations in a way

that respects the interests of both small and large operators,” the GCC said, adding that it would share more on the sessions in the coming weeks.

“We understand the concerns expressed by operators, and part of our dialogue will focus on finding balanced solutions that enable businesses to operate successfully while maintaining industry integrity and protecting vulnerable individuals.

“Our goal is to build a solid foundation that will support a responsible and thriving gambling ecosystem.”

The GCC also noted that “a percentage” of funds collected through the licensing process will directly support funds for rehabilitation and development.

“Those funds are dedicated to addressing gambling addiction and supporting community initiatives such as sports, arts, and culture.

“By doing so, we ensure that the regulated gambling sector contributes positively to society and the communities that support it.”

The GCC said it believes in building an industry that “not only safeguards the public interest but also creates opportunities for growth, employment, and community investment.”

This story has been adjusted to include additional details. See original post below.

THE Gambling (Gaming and Betting) Control Act, designed to prevent money laundering, tax evasion and protect the public errant operators, is expected to be proclaimed in January.

Finance Minister Colm Imbert said the commission has made "significant progress" in establishing a regulatory framework, having recently concluded public consultations.

Imbert, presenting the 2024/2025 national budget, said the commission is now refining the feedback received.

He said the commission will enter a transitional period after the act is proclaimed when "all gaming establishment operators and owners of gaming machines, under the Liquor Licences Act, must notify the commission of their existence.

"Once this information is collected, the commission will advise of the applicable licences as it applies to their areas of operations," Imbert said, adding that they will then pay the relevant licensing fee.

The collection of licensing fees for gaming and gambling is expected to begin in the second quarter of fiscal 2025.

He announced that the commission has also recruited senior leadership and is engaged in building its key human resource infrastructure.

"This strategic human capital development aims to arm the commission with the technical expertise to audit, manage and provide up-to-date resources necessary for a flexible and dynamic organisation.

"Additionally, significant investments in infrastructure and technological advancements have been undertaken, including procurement of essential systems for finance and gaming operations.

"These implementations, coupled with staff training, robust stakeholder engagement and the establishment of internal governance structures, collectively enhance the commission’s capacity for effective oversight and compliance within the gambling sector, through an effective licensing regime."

Imbert added that the commission has initiated procurement of highly recommended due diligence software, through selected international companies, where assistance will be given to demystify corporate structures.

He said the commission would work with local and international authorities to combat financial crimes associated with gambling.

The legislation is designed to protect citizens, including problem gamblers and minors.

"The act aims to ensure that gambling is conducted in a fair, open and responsible manner, protecting minors and vulnerable persons from harm. It seeks to prevent gambling from being a source of crime or being used to support crime, while also ensuring compliance with anti-money laundering and counter-terrorism financing laws."