‘My primary objective is continuity’ – Malta Gaming Authority CEO Charles Mizzi

The winds of change are blowing over the iGaming industry in Malta, in more ways than one. Global markets are increasingly becoming regulated at a local level. Longer-established licences, like Curacao’s, have undergone an overhaul to strengthen their AML and CTF credentials. And, according to a recent NSO report, Malta’s betting and gaming sector saw profits drop by €351.5 million in 2022.

Amidst all these changes, the Malta Gaming Authority announced the appointment of a new CEO in January 2024, bringing in Charles Mizzi to take over a role that has seen its fair share of controversy. The former Residency Malta Agency CEO is new to the sector, but he brings iGaming-adjacent experience to the role.

Now, some nine months into his appointment, he’s the first to acknowledge that it’s been somewhat of a baptism of fire, having to learn the specifics of the gaming sector from the ground up. But he also believes that his former and current industries share enough core similarities to make this an opportunity, rather than a challenge.

“The knowledge and experience I bring from my previous role are valuable in managing the day-to-day operations of the MGA. Of course, the MGA operates with its own unique challenges and opportunities. To be effective, I must not only leverage my existing knowledge but also adapt to the specific realities and culture of the wider gaming industry. This means being open to learning and understanding the distinct regulatory environment, industry dynamics and stakeholder expectations that drive the sector,” he says.

His short-term strategy centres on integrating his operational management experience with a deepening understanding of the gaming industry. The keywords, he insists, are continuity and sustainability for the sector.

“The strategy recently formulated by the MGA remains both fresh and relevant, and my primary objective is continuity. We have a solid foundation in place, and it’s crucial that we sustain the industry rather than introduce any abrupt changes that could unsettle it. My focus will be on maintaining the course set by my predecessor, ensuring that the industry remains stable and well-supported,” he elaborates. “That said, we are always open to improvements, particularly when it comes to enhancing operational efficiency.”

These are words that will undoubtedly resonate with many stakeholders. However, when the MGA was initially founded in 2001, it was the first European regulatory body of its kind. Today, competition is harsh, both within Europe and beyond. Is it really possible to pursue continuity without sacrificing market position, given the fast-shifting realities?

“Our teams are actively monitoring all regulatory developments. Should adjustments become necessary, we will make them in a measured and thoughtful manner,” he assures me.

He acknowledges that adapting to the evolving needs of the market is crucial to sustain the ecosystem that supports gaming operators in Malta, allowing them to continue thriving and providing employment.

“To remain relevant and attractive, we must ensure that our processes are streamlined and our interactions with operators are as efficient as possible. Our strategy is to prioritise efficiency and responsiveness, aligning closely with the needs of the industry. In a crowded regulatory environment, we must excel and distinguish ourselves by our ability to respond to queries and requests in a timely manner,” he says. “It’s important to emphasise that our intention is not to shock the industry, but rather to build on the strengths of our existing strategy.”

Does the €351.5 million dip in revenue reported by the NSO worry him, and is it a sign that the sector’s golden age is over? Mr Mizzi doesn’t believe so. He points out that the dip can be viewed within the normal fluctuations of the market and that profits have tended to recover in 2023 and 2024.

“Most importantly, the contribution of wages and salaries earned within the sector has continued to increase in a stable manner. In 2023, compensation to employees in the sector amounted to €600 million, up from €400 million in 2018,” he states. “We see the iGaming sector moving towards a more stable and mature phase,” he continues, “reflecting developments in the industry worldwide. In particular, the MGA has consolidated the sector by licensing operators with a substantial presence in both the domestic and global context, capable of maintaining high standards of regulatory compliance and consumer protection, and which invest in their reputation. As a result, all the major gaming operators in the industry continue to be established in Malta under an MGA licence.”

He adds that the Authority has intensified its focus towards business-to-business (B2B) operators, which can contribute more effectively to high-quality job creation in Malta with lower risks. The end of 2023 saw a total of 159 B2B firms licensed by the MGA, a growth that Mr Mizzi attributes to the strategy behind the overhaul to the Gaming Act in 2018. “We are now seeing the benefits of that foresight,” he adds.

Another facet of this strategy is the controversial Article 56A (previously referred to as Bill 55), which renders foreign judgments against Malta-licensed operators unenforceable under certain conditions, such as when the activities by an operator subject to a foreign challenge relates to authorised activity lawful under the local Gaming Act. How is the MGA dealing with the backlash at the EU level, and have there been any updates from the European Commission?

“It is crucial to address any misconceptions. The law does not impose a blanket ban on the enforcement of European judgments against Maltese gaming companies in Malta. Nor was it enacted to shield these companies from legal action before other European courts. The provision is highly restricted in scope and applies only to specific actions that fulfil the stringent criteria established within the provision itself,” Mr Mizzi insists, adding that Malta is in ongoing dialogue with the Commission to ensure that its position is clearly understood.

Meanwhile, the past months have brought about innovations for the sector, with the Authority unveiling a new ESG online hub. What prompted the need for this hub, and how has it been received by licensees?

“While responsible gambling has always been a core priority – ensuring player protection, minimising harm and addressing addiction – our vision for the industry’s social licence extends beyond this. It includes environmental stewardship, ethical governance and social well- being. We believe that demonstrating a genuine commitment to responsible and ethical practices is essential, not just in compliance with the law but in going beyond it. Thus, the new hub aims to serve as a comprehensive resource for all information related to our voluntary ESG Code of Good Practice for the remote gaming sector,” Mr Mizzi replies.

He says that the response from licensees has been encouraging. The first reporting cycle is underway this year, bringing with it formal recognition to participating organisations through the MGA ESG Code Approval Seal. Mr Mizzi says that this credential will further incentivise companies to commit to these practices.

“We believe this initiative will significantly enhance the industry’s reputation and sustainability. It sends a clear message: sustainability, in the broadest sense of the word, is integral to the future of the iGaming sector,” he states, adding that the sector’s forward-looking nature – pioneering in technology, innovation and progressive workplace cultures – makes it uniquely positioned to lead in the integration of ESG considerations.

The Authority’s remit is also closely tied to that of the Financial Intelligence Analysis Unit (FIAU) in terms of AML and CTF efforts. The MGA recently carried out a thematic review of the sector in collaboration with the FIAU. What were the insights gained, and which areas were identified as requiring attention?

“The review involved 23 compliance examinations, focusing specifically on the Money Laundering Reporting Officers of remote gaming operators and employees engaged in the AML/CFT compliance function. Overall, the findings were encouraging.

The interviewees demonstrated a strong grasp of key AML/CFT principles. However, the review also highlighted areas for improvement in terms of interviewees’ awareness of the inherent and residual risks faced by their respective companies,” Mr Mizzi reports, adding that the Authority will be following up via an outreach initiative to provide additional guidance to licensees.

Finally, what are the coming months looking like for the Authority in terms of areas of strategic importance? Mr Mizzi says that the primary objective will be enhancing the efficiency of internal processes and improving interactions with external stakeholders.

“Another key priority will be maintaining the open channels of communication that have become a hallmark of the MGA. Engaging with our stakeholders and listening to their feedback is essential to ensure that our policies and regulations are aligned with the evolving needs of the market. The gaming industry is dynamic, and it is crucial that we, as a regulator, remain adaptable and responsive to these changes while maintaining the necessary oversight to protect players and ensure a fair, transparent and secure gaming environment,” he concludes.

This interview was first carried in the 2025 edition of iGaming Capital magazine, the sister brand of iGamingCapital.mt, both owned and operated by Content House