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Altenar continues regulated market mission with Malta licence
10 April 2019
Altenar has set about acquiring more customers from regulated gambling markets after collecting a B2B sports betting licence from the Malta Gaming Authority (MGA).
This recognition allows Altenar to work with Malta-licensed operators to offer betting services including in-play coverage and the cash out feature.
The licensing process for this Type 2 B2B licence took just over five months which, according to Altenar CEO Stanislav Silin, is “relatively quick given that the regulatory regime in Malta changed in August 2018, and quite a number of providers had to go through the process of getting a new licence all at the same time”.
The MGA licence covers a lot of common ground in terms of requirements typically present in country specific regulation, and is, therefore, a good base standard to cater for subsequent expansion into such jurisdictions.
Silin added that securing the licence - which followed the firm’s approval to service the Romanian market in September 2018 - was a key stepping stone towards becoming “one of the best sportsbook providers on the market”.
“This isn't our first licence, as we already have one issued in Romania,” he explained. “It definitely won’t be the last either, but it is certainly the most significant so far, and one that should allow us to progress further along our path following our strategy of gaining recognition and acquiring customers in regulated markets.
“Meeting the stringent compliance tests and regulatory requirements set by the MGA is definitely an important step as we seek to become one of the best sportsbook providers on the market - an ambitious vision that we are slowly making a reality.”
It’s been a fast start to the year for Altenar, who secured its first regulated customer for the Romanian market in January through Red Sevens (www.redsevens.ro).
Just two months later, the firm powered the launch of Fastbet.it, a new brand for established Italian sports betting and gaming operator Replatz - one of 70 licensees confirmed by the country’s gaming regulator Agenzia delle Dogane e dei Monopoli (ADM).