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4 NEWS 1.6.2023 PAUL COCKS THE Malta Gaming Authority conduct- ed 28 compliance audits and 228 desktop reviews during 2022, accompanied by ad- ditional AML/CFT compliance examina- tions that are carried out by the FIAU, or by the MGA on its behalf. Following information which emerged from compliance audits, compliance reviews and formal investigations, the MGA issued 10 warnings and cancelled six licences. In addition, the MGA is- sued a total of 16 administrative penalties as well as three regulatory settlements, with a collective total financial penalty of €179,150. is emerged from the MGA's Annual Report and audited Financial Statements for the financial year ending 31 December 2022. In addition to outlining the performance of the Maltese gaming business in 2022, the report gives a broad summary of the Authority's accomplishments during the year under review and offers a medi- um-term outlook for the future. A total of 25 licensees were subject to remediation and/or administrative meas- ures by the FIAU, ranging from written reprimands to administrative penalties, based on the breaches identified during examinations carried out in previous years, including by the MGA. In total, these amounted to just over €738,000. Six individuals and companies were deemed by the Fit & Proper Committee to not be up to the Authority's probity standards due to various factors, includ- ing due to the risks of money laundering or funding of terrorism. 41 gaming licence applications were re- ceived during 2022. 31 licences were is- sued, while 21 were unsuccessful. Over 1,500 criminal probity screening checks were undertaken on individu- als, shareholders and ultimate beneficial owners, key persons and other employ- ees, and companies from both the land- based and online gaming sectors. e MGA conducted 48 interviews with prospective MLROs and key persons car- rying out the AML/CFT function to de- termine the knowledge and suitability of each candidate. e Commercial Communication Committee of the MGA issued a total of nine Letters of Breach following breach- es of the Commercial Communications Regulations. In its efforts to protect players and en- courage responsible gambling, the MGA supported a total of 5,280 players who re- quested assistance, covering most of the cases received during 2022 and the spill- over from 2021. e MGA conducted 85 responsible gaming-themed website checks, through which 38 URLs were found to have mis- leading information. is led to 17 notic- es being published on the MGA website, and 30 observation letters that were sent out reflecting responsible gaming issues. Improvements in Efficiency and Effectiveness e MGA commissioned a sectorial skills strategy to address the gaming in- dustry's challenges with respect to the ongoing demand for qualified and skilled human capital, which increased signifi- cantly as the economy grew and diversi- fied into numerous sectors. Consultation exercises were conducted with industry stakeholders regarding the bets offered by licensees – with a focus on sports integrity and player protection considerations – on the proposed amend- ments to the Player Protection Directive (Directive 2 of 2018), and on the proposed policy on the use of Innovative Technolo- gy Arrangements (ITAs) and the accept- ance of Virtual Financial Assets (VFAs) and Virtual Tokens, which led to amend- ments and a finalised Policy, respectively. e MGA streamlined the approval process of appointing an MLRO in collab- oration with the FIAU while, at the same time, ensuring that the industry is kept updated on any changes affecting this process and on any best practices that are intrinsic to the role of the MLRO. e concept of Agreed-Upon Proce- dures (AUPs) Reports was introduced, covering player funds and Gaming Reve- nue. Audit firms are drawing up these re- ports in compliance with the 'Internation- al Standard on Related Services (ISRS) 4400 (Revised) Agreed-Upon Procedures Engagements' . e MGA also kickstarted a process for possibly implementing a voluntary Envi- ronmental, Social and Governance (ESG) Code of Good Practice for the industry to showcase and increase the positive social and environmental impacts of the gam- bling sector. MERCURY Towers, the long-awaited lifestyle destination, prepares to open its doors for shopping, dining and en- tertainment. September 2023 marks the first phase within a six-month launch period for the landmark loca- tion. Positioned in the heart of St Julian's and designed by one of the world's most prolific architects of her time, the late Zaha Hadid, Mercury Tow- ers has served as a catalyst for wide- spread regeneration in the Paceville area. With ongoing improvements be- ing made to the urban fabric, and the introduction of inclusive, family- ori- entated amenities, the area is witness- ing a gradual transformation, making it more welcoming for both residents and visitors. During its inaugural phase, com- mencing in 2023, Mercury Towers will re-invent Malta's retail landscape through a curated mix of over 80 mul- ti-category lifestyle brands, setting a new benchmark in choice for the local consumer. The culinary scene at Mer- cury Towers will be equally disrup- tive, with a portfolio of diverse food and beverage concepts. Renowned international franchis- es and local artisan delights will help reinforce Malta's position as a premi- um foodie destination for the global traveler. Offering an experience that cannot be found anywhere else on the island, this curated mix responds to a growing appetite for delectable food and innovative experiential dining. To complement the shopping and dining offering, Mercury Towers will also introduce cutting-edge entertain- ment, appealing to the entire family. From adrenaline-fueled activities to fully immersive, technology-driven performances, visitors will be trans- ported to another planet, where play is the order of day. Details regarding the impressive lineup of brands and concepts avail- able at Mercury Towers will be re- vealed in the upcoming weeks. Once fully operational in Q1 of 2024, Mercury Towers will evolve into a vi- brant new quarter encompassing ac- commodation, shopping, dining, en- tertainment, residential and wellness facilities, setting new standards for lo- cal industry. At Mercury Towers' core, lies the meticulously restored Grade II listed Mercury House which stands proud once again. It is accompanied by a 33-floor resi- dential tower – Malta's tallest to date – and the luxe five-star ME Malta Hotel by Meliá. As the first lifestyle franchise of its kind locally, ME Mal- ta is housed within a second 20- floor building that flanks a public square. It follows the recent opening of ME Dubai, an iconic architectural wonder also designed by Zaha Hadid Archi- tects. Anchored in art, design, innovation, and community-led activity, Mercury Towers aspires to become a new cul- tural hub, curating lifestyle experienc- es which serve to inspire thought, and a sense of place. With 4,000sq.m of open public spac- es, Mercury Towers has repurposed a once-gated space for public use, while paying homage to the futuristic flair of tarchitect Zaha Hadid, whose work is characterized by the ever-present curve. Mercury Towers gears towards its initial operational phase Mercury Towers will re-invent Malta's retail landscape through a curated mix of over 80 multi-category lifestyle brands MGA cancelled six licenses in 2022

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