REGULATOR’S REFLECTIONS
with our desired industry standards, and not focus solely on penalising undesirable behaviour. With this in mind, the MGA is working on a voluntary ESG (environmental, social and governance) code of good practice for the gaming sector. We are delighted to be the first regulator looking holistically into the sustainability of the gaming industry. The initial feedback from the sector has been very encouraging, and we look forward to working closely with our licensees to continue transforming the gaming sector into a more transparent and sustainable one. Unlike other industries, ESG reporting is relatively new to the gaming sector. Although some of our licensees report on ESG publicly and set their own sustainability standards – which we applaud and fully support – we believe that the wider sector lacks common priorities for ESG in gaming. We aim to close this gap with our voluntary ESG code of good practice, where part of the approach will also be to give back to the industry, by providing them with information that they can use to improve their performance, and also by acknowledging the efforts that they make in this regard. QM: You have no doubt observed the trend in Europe and elsewhere to restrict or ban outright the promotion and advertising of gambling. What is your view of such developments and do you think they contribute to safer gambling? CB: While banning gambling advertising can be seen as a response to concerns about excessive gambling and its potential societal impacts, as I mentioned, gambling always did and always will exist, whether we try to ban it or not. The important thing is that people are empowered with the knowledge to make informed choices about where to engage in gambling activities in a legitimate and safe manner. Although every country’s approach differs, I believe banning advertising can be counterproductive. It does not enable regulated operators to distinguish their services from unregulated ones; aside from undermining the investment that such operators have made to access a market, this also risks diverting players to operators that are not subject to responsible gambling requirements.
We believe that responsible advertising, coupled with robust player protection measures, contribute significantly to safer gambling. Our approach focuses on promoting responsible gambling practices, ensuring that operators comply with strict regulations, and providing resources for individuals facing gambling-related issues. QM: It would seem that regulators have a lot of common ground in terms of their objectives and priorities. What would it take to achieve greater coordination of regulation? CB: As I’ve mentioned before, the fundamental aims of every legislative framework are predominantly the same in that regulators typically strive to supervise a well-regulated industry that balances economic interests with the protection of consumers and society as a whole. Enhanced dialogue between public authorities and stakeholders is therefore vital: the entire gambling industry (not only operators but also related stakeholders such as ancillary service providers and consumer associations) could play a crucial role in designing more responsive and cross-border regulatory strategies, as well as more effective instruments of enforcement to combat money laundering and corruption. Facilitating the sharing of data helps gain a deeper understanding of industry trends, potential risks and emerging issues within an ever-evolving gaming industry. This would enable regulators to respond more effectively to challenges that transcend borders. Standardising best practices in areas such as anti-money laundering and responsible gambling can also help create a more uniform approach to gaming regulation, which gives the industry greater legal certainty and clarity, and helps us as regulators to use our resources effectively. This does not only stem from a willingness on the part of regulators, but above all it depends on the respective governments acknowledging these common objectives, regardless of other differences that may exist, encouraging their regulators to cooperate with their counterparts in other jurisdictions, and allocating the necessary resources accordingly.
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IMGL MAGAZINE | OCTOBER 2023
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