|Evolution gains Class 4 Malta LGA licence|
|Thursday, 12 April 2012 14:26|
Evolution Gaming has been awarded a Class 4 B2B (Business-to-Business) Licence by the Malta Lotteries & Gaming Authority (LGA). Although awarded as a B2B licence to Evolution as a live gaming platform provider, the licence offers significant business benefits to B2C (Business-to-Consumer) clients looking to stream Live Casino services across Europe.
Previously the B2C gaming operator also needed to have a Malta LGA licence, but following a legislative amendment in 2011 this is no longer the case. Post-amendment, an EU/EEA country-licensed B2C gaming operator looking to harness the Malta-approved platform of a B2B game provider does not need to apply for a Malta B2C licence under the Remote Gaming Regulations in addition to its EU/EEA country licence.
Currently, Malta is the only full EU Member State that explicitly licenses and regulates B2B providers separately from B2C licensing. Malta also provides significant tax advantages and other business incentives for gaming providers and their clients.
According to Evolution, there are numerous advantages in choosing a Malta-licensed platform provider. Firstly, risk is reduced – by knowing with certainty that the provider and its games have met the rigorous standards of a reputable authority in an EU jurisdiction, and that adequate business continuity and disaster recovery systems are in place. Secondly, using a B2B provider that is specifically set up to service the reporting and compliance requirements of regulated markets enables the B2C operator to cut costs and operational overheads. Allied to this second point, the B2C operator can benefit from further significant legal and commercial advantages through clearer separation of roles and a transfer of certain responsibilities to the B2B licensee.
Jesper von Bahr, Chief Legal Officer at Evolution, commented: “The gaining of this licence fits in perfectly with Evolution’s total compliance policy and our desire to make things as simple and cost-effective as possible for our own licensees.” He added: “Naturally, we work with umbrella bodies such as the LGA and AGCC (Alderney Gambling Control Commission) and with local regulators, such as AAMS in Italy. This Class 4 licence will enable us to pursue additional opportunities and further strengthen our standing as the world’s leading Live Casino provider.”