Compliance Updates
MGA Publishes Voluntary ESG Code of Good Practice
The Malta Gaming Authority (MGA) has introduced the Environmental, Social and Governance (ESG) Code of Good Practice for the remote gaming sector.
This ESG Code seeks to serve as an instrument for self-regulation, helping remote gaming companies align with best practices and maintain a position that allows them to effectively meet the evolving expectations of key stakeholders in the sector.
While this ESG Code is voluntary, all MGA licensees are strongly encouraged to adopt it to better demonstrate their commitment to sustainability and to continue improving the ESG standing of the industry.
Addressing a press conference, MGA CEO Carl Brincat said that across industries, a trend has emerged towards greater transparency, disclosure, accountability and active engagement in addressing the pressing social and environmental issues of our time.
“The MGA has always strived to be at the forefront of regulatory innovation and progress. We have been working not only to supervise the gaming industry, but also to nurture it, to foster a space where operators can thrive, while ensuring that the welfare of society remains paramount. Our ESG Code represents our commitment to this,” Dr Brincat said.
Minister for the Economy, EU Funds and Lands Silvio Schembri said that the aim of the press conference was to highlight the importance for the remote gaming sector to voluntarily use the ESG tool that is increasingly shaping the business and investment landscape, as well as our approach to social and environmental challenges.
“All businesses should embrace tools to reduce risk and transform successfully, and when it comes to remote gaming, one of the tools is using ESG metrics.
“The ESG code will serve as an instrument for self-regulation, helping remote gaming companies align with best practices and maintain a position that allows them to effectively meet the evolving expectations of key stakeholders in the sector,” Minister Schembri said.
The ESG Code is the culmination of a journey that involved four extensive stages: the peer review and research phase, materiality assessment, stakeholder interviews and licensees’ consultations. This extensive process has resulted in a final Code that is well-informed and reflective of the industry’s ESG priorities and stakeholder expectations.
Key Features of the ESG Code – a Balanced Approach
The Code identifies 19 ESG topics, derived from the materially assessment, organised into three categories: Environmental, Social and Governance, providing a strategic framework for remote gaming companies to focus their reporting efforts effectively.
Two Tiers of Reporting: The MGA will recognise companies’ efforts with two levels of reporting, Tier 1, a basic ESG standard, and Tier 2, a more aspirational level, to ensure sustainability efforts are focused and impactful.
Flexible approach for certain disclosures: Core disclosures have been defined, while reporting entities will have the flexibility to choose optional disclosures;
Streamlined Reporting: The Code includes several ESG disclosures already required under existing reporting frameworks to streamline reporting and reduce administrative burden; and
Focus on ESG reporting: The emphasis is on ESG reporting, rather than setting specific ESG targets.
An MGA ESG Code Approval Seal
Industry consultation revealed a strong desire for formal recognition by the MGA. To meet this demand, the MGA ESG Code Approval Seal will be awarded to entities that report under this Code, showcasing their commitment to ESG. Different seals will be awarded to entities that meet Tier 1 or Tier 2 reporting requirements.
How the ESG Code will Work in Practice
The Code will be a standalone voluntary submission, separate from other ESG disclosures made by the reporting entity to the MGA or other bodies. Reporting will be confidential, and the MGA will launch an online tool to facilitate the process. Additionally, the ESG Code will align reporting periods with the financial year of reporting entities. The inaugural reporting year will commence in 2023, with the submission deadline set for the third quarter of 2024.
Compliance Updates
ClearStake awarded ISO 27001 certification cementing its position as a trusted financial risk check provider
Real-time risk profiling tool provider ClearStake has been awarded ISO 27001 certification, the globally recognised standard for data protection and system security, cementing its position as a trusted provider to the gambling industry.
To qualify for the ISO 27001, ClearStake was required to actively demonstrate the successful deployment and adherence to a robust Information Security Management System (ISMS), as part of a rigorous two-stage accreditation process with an independent auditor.
A key endorsement when expanding across global markets, the certification proves ClearStake’s team is fully compliant with international data protection and security standards, which were most recently updated by the International Organization for Standardization and the International Electrotechnical Commission in 2022.
Martin Burt, CEO at ClearStake, said: “At the heart of what we do at ClearStake is building a secure environment for operators to handle and process data. As such, we are delighted to receive the ISO 27001 certification, which reaffirms our position as a reliable and compliant technology provider.
“This is a vital step in our growth as a company and will give clients further assurance that we operate to the highest standards.”
Stakelogic Live has received the green light from the Hellenic Gaming Commission to provide its industry-leading live casino content in the Greek market
Stakelogic Live, the in-demand provider of innovative live casino content, is set to launch in Greece after receiving approval from the Hellenic Gaming Commission.
As a result, Stakelogic Live will now be able to provide its exciting live casino content to any online casino that is licensed in the country. This will provide Greek players with the chance to sample Stakelogic Live’s plethora of live casino games.
Stakelogic Live streams its content live from state-of-the-art studios in Malta and the Netherlands and is already licensed by the Malta Gaming Authority. Its products range from standard live casino games such as American Blackjack, European Roulette and Auto Roulette to exciting game shows like Super Stake Blackjack, Super Stake Roulette 5000x and Speed Baccarat. All of these will be available at leading Greek Operators.
The provider is well-established in key markets across Europe, working with some of the industry’s leading operators. Players at Greek casinos will also get a chance to experience the newly launched Super Wheel™ bonus feature, an exciting money-wheel bonus that is a core feature on Stakelogic Slots.
Stephan van den Oetelaar, CEO at Stakelogic said: “Securing this license from the Hellenic Gaming Commission is a huge step forward for Stakelogic Live. Stakelogic has been active in the Greek market for a couple of years now, and Greek players have reacted well to our products.
Stakelogic Live offers premium, industry-leading live casino content, and we can’t wait for Greek players to be able to enjoy it for the first time.”
Compliance Updates
Salsa Technology Launches Salsa Safe, a Dedicated Platform for iGaming Regulators
Salsa Technology has added another product in its portfolio of solutions for the iGaming sector. This latest addition is a secure system designed to meet the demand of global regulators in the online gambling sector.
Salsa Safe provides regulatory bodies in the sector including Brazilian state lotteries with a comprehensive system. It integrates operator management data and enables effective and transparent monitoring of operations.
In addition to being an important ally of regulators, Salsa Safe provides operators with the tools they need to comply with all regulatory requirements, helping to prevent fraud, protect players and promote responsible gaming.
The platform was specially designed to enhance responsible gaming by monitoring suspicious bets, types of self-exclusions and data control. Salsa Safe automates management reports for financial teams including transaction volume per operator, tax calculation and application of compliance models. It is worth highlighting that the product is fully integrated with PIX, which is the most popular method of the Brazilian payment system.
Salsa Safe offers a unique approach to data management, combining data from multiple sources to provide regulators with a complete view of operations. The platform’s intuitive design and advanced reporting capabilities make it easy to monitor operations, detect fraudulent activity and comply with regulations.
“We are excited to introduce Salsa Safe,” the Chief Operating Officer for Salsa Technology, Andre Filipe Neves, said. “This comprehensive solution not only provides regulators with necessary tools for monitoring operator activities but also assists operators in meeting the stringent requirements imposed by regulators.”
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