How Malta-based gambling companies are dealing with enhanced regulation
Malta has been favoured by online casino operators due to low levels of taxation and the number of business opportunities. However, with six-figure fines and increasing taxation, some operators have witnessed a reduction in profit margins. CZ Holdings has chosen to give up its license to escape a UKGC inquiry. Casumo received a six figure fine for operating license violations.
Genesis Global was suspended by the UK Gambling Commission for three months. The company was founded in 2014 and offers an online casino, Sportsbook and live casino. It is regulated by Malta Gaming Authority, UKGamblingCommission and Swedish government. It has 14 sister sites.
Mr. Green rose to fame in 2007 and became one of the biggest standalone casinos in the industry. It later acquired Evoke gaming and four of its casino and sportsbook brands from Bonnier in 2017. Mr Green itself was acquired by William Hill in 2019. The company headquarters was moved from Stockholm to Sliema, Malta.
Gaming Innovation Group is a full-service iGaming software provider and media partner for online gambling operators. GiG has acquired and operated a significant number of companies and managed consumer brands such as Guts.com and Rizk.
Kindred is a Malta-based company that operates many popular online casinos, Poker and sports betting sites. Kindred has principal offices in London, Gibraltar and Stockholm. The company was founded by Anders Strom in 1997. It has 11 sites in its portfolio and operates innovative programmes such as Kinded Futures.
Online casino brands have been slapped with hefty fines in the past few years. Most forward-thinking operators have resorted to multi-brand acquisitions to lower costs and secure their bottom lines.