The MGA conducts a fit and proper exercise on the applicant by assessing all information related to persons involved in financing and management and on the business viability of the operation. As part of this process, the MGA conducts criminal probity screening with other national and international regulatory bodies and law enforcement agencies.

The applicant is examined on the instruments required to conduct the business. This process includes examining incorporation documents, the games, the business processes related to conducting the games, the rules, terms, conditions, policies, procedures and technical documentation of the gaming and control system.

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Furthermore, a licensee is subject to minimum issued and paid-up share capital requirements:

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Gaming Service Licence

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Type 1 – Minimum €100,000

Type 2 – Minimum €100,000

Type 3 – Minimum €40,000

Type 4 – Minimum €40,000

Critical Gaming Supply Licence

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Minimum €40,000

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Companies with multiple type approvals are required to meet the above share capital requirements cumulatively up to a maximum required capping of €240,000.

The above mentioned components constitute the desk-based audit of the application requirements. Inconsistent and low quality applications are dropped and the respective applicant will have to re-apply.

The MGA mandates that after going live, a Licensee must undergo a number of compliance audits of its operations performed by an approved Service Provider appointed by the Licensee. Such audits need to be completed by the Service Provider within 90 days from the MGA’s notice.

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The MGA will require the audit to adhere to the following schedule:

• After the first year of operation after being licensed by the MGA; and

• Any other audit depending on the compliance plan set by the MGA.

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Failure of a compliance audit could lead to suspension or termination of a licence.

The MGA conducts an in-depth financial analysis of the applicant’s business plan. The applicant’s business plan is expected to have a detailed financial forecast of the operation inclusive of Cash Flow, Profit & Loss, Balance Sheet, marketing and distribution strategies, HR plan and growth targets.

The MGA will inform the applicant that the application was successful and will invite the applicant to implement the operation onto a technical environment in preparation to go live. The applicant will be allowed 60 days to complete this technical roll-out, after which the application will be considered as cancelled and subject to re-application. At any stage within those 60 days, the applicant may appoint a Service Provider approved by the MGA to carry out a system audit. The systems audit will verify the live environment against the proposed application.

At this stage the MGA expects minimal deviation from the application. If there are significant changes to the gaming system, the applicant will have to re-apply by filing a new application.

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On successful completion of the certification process, the Authority issues a ten-year licence.