Gibraltar Gambling License

Introduction

All gambling operations in Gibraltar require licensing under the Gambling Act 2005 (“the Act”). Remote Gambling licences, including for telephone and Internet betting, are issued by the Licensing Authority. The Gambling Commissioner, appointed under the provisions of the Act, is granted powers to ensure that licensees conduct their operations in accordance with their licenses and maintain the good reputation of Gibraltar.

Local legislation on gambling is designed for gaming operators to secure tax advantage when carrying out activities and maintaining high level of reputation in Gibraltar, a jurisdiction known to be one of the most economically attractive in Europe.

There are four types of gambling activities:

1. Casino gaming (such as slots and casino table games: roulette, blackjack)
2. Betting (Sports/horse race betting, Fantasy betting)
3. Lotteries
4. ”Social” gaming



Legal Requirements

Categories

Entity Requirements

The entity making the application is Gibraltar:
a) Limited partnerships,
b) Unit trust or

Director’s Requirements

The licensee will need at least 2 (two) natural person Fit and Proper Directors of any jurisdiction.

Shareholder requirements

• Minimum of 1 Shareholder
• Corporate shareholding is allowed and 100% foreign ownership is permitted.

Compliance Officer

The Licensee must establish and maintain an appropriate and effective compliance function within the firm which operates independently of all operational and business line functions and senior or supervisory management.

Licensed Principle

The Applicant must employ at least one individual who is licensed as a principal. The Principle must:
a) Have sufficient educational or other qualifications or experience;
b) Have sufficient authority within the company;
c) Be a fit and proper person, to supervise the business for which the company that has nominated him is licensed or is applying to be licensed;

Authorized Representative

NA

Local Office

The applicant must have premises acceptable to the authority. The premises should be able to facilitate confidential interaction between the applicant and its clients, and provide for safe and confidential storage of documents.

Auditor

The Licensee, within one month after becoming licensed, shall appoint an external auditor who is acceptable to the Commission

Insurance

The applicant must have indemnity insurance coverage or a fidelity bond acceptable to the regulator

Minimum Capital Requirements

The initial and ongoing minimum capital requirements is £ 85000

Ongoing Obligations

• A gaming licence is issued for a period of 5 years. On expiration of such term, the Malta Gaming Authority may renew such licence for further 5 year periods, subject to continued compliance by the Licensee and upon payment of the renewal fee.
• It is not a requirement to file the Audited financial Reports