Online gaming industry in Equatorial Guinea begins regulation with Mascott Capital as partners
Equatorial Guinea has taken a significant step towards digital transformation and economic diversification by establishing a regulated online gambling framework. The initiative, outlined in Law 10/2017 and recently implemented regulatory changes, aims to create new revenue streams for the government while ensuring a safe and reputable online gaming ecosystem.
Streamlined Access through Mascott Capital Partners
All potential operators must apply for their licenses through Mascott Capital Partners, a Cyprus-based company granted the master license by the Equatorial Guinea government. Mascott Capital Partners will serve as the main regulatory access point for Equatorial Guinea's online gambling sector, responsible for issuing individual licenses and ensuring compliance with local regulations.
Mascott Capital Partners offers a proprietary digital platform for managing licence applications, monitoring compliance, and supporting international gaming firms. This platform will facilitate the submission of online gaming licence applications.
Comprehensive Regulatory Requirements
The licensing and compliance processes are governed by the Online Gaming, Online Betting, and Online Casino Licensing Framework launched under Law 10/2017. Operators must comply with regulations regarding age verification, safer gambling measures, and anti-money laundering (AML) efforts, ensuring integrity and consumer protection in line with international best practices.
In addition, operators are required to meet certain financial obligations as defined by the licensing framework, which covers fees and other economic requirements tied to operating legally within Equatorial Guineaโs online gaming market. The regulatory framework also requires regular financial and operational audits to maintain transparency and accountability.
Emphasis on Consumer Protection and Digital Transformation
The government emphasizes the importance of safeguarding consumer rights in online gambling. By implementing rigorous compliance obligations, including mandatory age checks and AML measures, Equatorial Guinea aims to protect its citizens and foster a responsible online gaming environment.
Antonio-Pedro Oliveira Burupu, Minister of Tourism and Tourism Infrastructure, stated that the launch of online gaming, online betting, and online casinos is a significant measure in Equatorial Guinea's gaming history. He considers this development a key milestone in the country's efforts to diversify the economy and drive digital transformation.
A New Era for Equatorial Guinea's Online Gambling Sector
With the granting of its first Online Gaming Master Licence to Mascott Capital Partners, Equatorial Guinea marks its debut in establishing a regulated online gambling framework. This move aligns with international standards and positions the country as a potential hub for online gaming, betting, and casino operators seeking a reputable and regulated market.
The licence, issued in accordance with Law 2/1995 and the regulatory and tax reforms outlined in Law 10/2017, pertains to online casinos, betting, and gaming. As the regulatory framework continues to evolve, Equatorial Guinea is poised to welcome a new era of digital innovation and economic growth in its online gambling sector.
Online betting operators seeking entry into Equatorial Guinea's online gambling market must meet comprehensive regulatory requirements, including age verification, safer gambling measures, and anti-money laundering (AML) efforts, as specified by the Online Gaming, Online Betting, and Online Casino Licensing Framework. Additionally, these operators are required to fulfill financial obligations and adhere to regular financial and operational audits to maintain transparency and accountability in the new online gaming ecosystem.
The implementation of this regulated online gambling framework, part of Equatorial Guinea's digital transformation and economic diversification strategy, also prioritizes consumer protection, ensuring a safe and reputable online gaming environment that aligns with international best practices.
