“ Often regulatory agencies introduce friction that hinders the commercial adoption of innovations , but this effort will look to minimize such hurdles and create an ideal environment abreast of advancements and not antagonistic towards innovation .”
— Richard Schuetz , Owner , Schuetz LLC
Overcoming Challenges
Richard Schuetz , owner of gaming and regulatory consulting enterprise Schuetz LLC , describes Malta as an “ incredibly beautiful ” place with a “ most friendly ” population . The former executive director of the Bermuda Casino Gaming Commission from 2015 to 2017 also championed the reputation of the Malta Gaming Authority following a period in which it was challenged by circumstances that would test any institution .
“ From my observations , the Malta Gaming Authority has worked diligently to get beyond these challenges and strive to establish a culture of leadership , integrity and innovation on the world ’ s gaming regulatory stage ,” Schuetz says .
“ The regulator has also been a leader in the introduction of distributive ledger technologies as a regulatory tool . Often regulatory agencies introduce friction that hinders the commercial adoption of innovations , but this effort will look to minimize such hurdles and create an ideal environment abreast of advancements and not antagonistic towards innovation .”
Schuetz , whose career also included a fouryear stint with the California Gambling Control Commission , says the iGaming scene in Malta is “ appearing well on its way toward achieving the desired gold standard status .” He maintains this comes as the Malta Gaming Authority is continually working to stay abreast of the latest player protection research and insights while remaining on top of the newest developments so as to build a viable and sustainable future for the industry .
“ What is important to understand about the regulator is that its approach in these areas is a continuously evolving process ,” Schuetz says . “ One of the Malta Gaming Authority ’ s more interesting endeavors has been with the program focused on developing a voluntary ESG code of good practice for the remote gaming sector .
“ This is a cutting-edge effort designed to ensure all players in the Malta gaming ecosystem are aware of the importance of developing sustainable business and operating models . I would anticipate this program will go on to become the standard adopted throughout much of the regulated gaming world .”
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