An association of leading iGaming companies based in Malta has come out in support of the police and judiciary in investigating reports of crimes which were having a negative impact on the reputation of the industry – a major contributor to Malta’s GDP.
In a press release issued this morning, iGEN noted that over the past few years, and in particular in recent weeks and months, the press has covered events, accusations and criminal charges being levied in Malta which have had a negative impact on the reputation of the iGaming “industry by direct and indirect association,” ahead of the results of the MONEYVAL assessment.
“A number of individuals in prominent political positions, as well as senior officials at key industry regulators have been implicated in crimes and/or have been accused of colluding with local business leaders.
“The actions of the few are impacting negatively the second largest industry in Malta, which represents over 13% of the country’s GDP. These have resulted in higher costs, an increase in operational complexity, loss of business and substantial reputational damage,” it said.
In its statement, the iGaming industry represented by iGEN reiterated its commitment to Malta and gave its full support to the efforts of the police and the judiciary in investigating such reports and allegations. It also stressed the “need for clear and decisive action to ensure that justice is done and any guilty parties are prosecuted to the fullest extent of the law.”
iGEN said it was hoping for a successful outcome of the ongoing MONEYVAL assessment.
“iGEN condemns all acts of corruption, money laundering and fraud, and welcomes transparent and thorough investigations to eliminate all the individuals, companies and representatives from any position of influence.”
‘We are satisfied to see that the relevant institutions have started to take decisive action against these claims, but much more remains to be done. Anyone who is or was involved in corruption and graft must be held accountable, and a clear message must be sent to demonstrate that the law applies to all without fear or favour’ stated Enrico Bradamante, Chairman of iGEN.
The institutions are working – Economy Minister
In a reaction on Saturday, Economy Minister Silvio Schembri downplayed concerns about Malta’s regulatory framework facing trouble, insisting instead that recent arrests and prosecutions showed that the “institutions are working”.
Schembri highlighted the appointment of the current MGA CEO through a public call – the first time the post has been filled that way – as a step in the right direction.
Schembri added that the government would be working to strengthen the gaming sector, saying legislation would need to keep up with sectoral developments.
“This sector is dynamic, and you cannot have legislation which is outdated, since in the past 10 years the sector has changed completely,” Schembri said.