MGA Announces Amendments for start-ups
The Malta Gaming Authority has confirmed the introduction of several amendments to the Gaming Licence Fees Regulations.
For a licensee to be considered a start-up undertaking (‘start up’), it must cumulatively satisfy a list of criteria established by the Regulations, which include amongst other criteria, requirements relating to maximum amounts of revenue from the same or related sector.
Following this amendment, in order for an applicant to qualify as a start up, it and its corporate group must not have generated more than €10 million of revenue in the 36 months prior to application.
This amendment is aimed at ensuring that undertakings classified as start-ups are truly such, whilst simultaneously not prejudicing corporate groups that were in the business many years back and wish to benefit from such an incentive by starting up again.