Daily fantasy sports operator DraftKings is plotting some major European expansion after receiving a new license from Malta’s gaming regulators.
Last August, Malta exempted DFS from requiring a gambling license. On Monday, the Malta Gaming Authority (MGA) announced that its new Skill Games Regulations were now in force, and that DFS fell under its definition of “controlled skill games.”
The MGA’s new skill games approach focuses on “consumer protection, fairness of the game and the prevention of criminality.” Skill games licenses are valid for five years, with fees running at €8,500 per year. Licensees are required to pay 5% tax on gaming revenue, with total tax payable capped at €466k per year.
Almost immediately, DraftKings announced that it had received one of the MGA’s new skill games licenses, clearing the way for the company to expand into new European Union markets. DraftKings launched operations in the UK early last year after winning a gambling license from the UK Gambling Commission.