Malta and Denmark Sign Agreement for Online Gambling Co-operation
Denmark’s newly regulated online gambling market is off to a roaring start with figures out for the first quarter of 2012. Gross gaming revenue (GGR) reaching DKK 470 million with DKK 285 million coming from sports betting and DKK 185 million from online casino games.The Danish Gambling Authority has revealed the figures are far from accurate with the numbers actually being derived from online gambling companies’ most recent tax returns.
Denmark and Malta have signed a memorandum of understanding that will enhance cooperation between their respective regulatory regimes. The Lotteries and Gaming Authority (LGA) and Danish Gambling Authority (DGA) will exchange information with the goal of achieving a common perspective. It will mean cooperation enforcing the laws regarding joint licensees. To strengthen the bond among regulators and the laws that govern them in the European Union context Malta’s Lottery and Gaming Authority Chief Executive Officer Reuben Portanier, and Denmark’s Gambling Authority director signed the agreement to create a cooperative tool. Perhaps Denmark will look into similar programs being developed by the Maltese gambling authority. Malta is in the process of developing a Responsible Gaming Fund that would help fund responsible gaming advertising campaigns.
The Times of Malta reported recently that Tonio French, Malta’s finance minister said that the final details are still to be worked on by the cabinet and it’s being suggested that gaming industry operators will be required to contribute to the fund in good faith. Mr. French added that there are 60 pending applications to receive a licence to operate out of the jurisdiction. It was also reported that gambling operator Betsson will be employing another 350 people in Malta over the little while. All the efforts to cooperate and make a stronger regulated environment for online gambling is giving the European Commission a better framework by which to create a harmonized set of regulations for the entire European Union.
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