The Equatorial Guinea government issued its first master iGaming license, showing clear intent to interfere among the big “players”, such as Curaçao and Anjouan.
The Government of the Republic of Equatorial Guinea has granted a master license for online gaming, online betting, and online casinos, License No. 0107-LE025-BN, to Mascott Capital Partners, an online gaming and licensing management company in Cyprus, as part of the country’s regulatory framework for online gambling and as an integral part of its strategic positioning to attract international investment to the economy. This was Equatorial Guinea’s first issued iGaming license.
In this manner, the Central African country began to implement the January 3 law, which governs the permission, management, and oversight of games of chance within its borders. Mascott Capital Partners was the first business to fulfill the related tax duties, regulations, and criteria.
A major step toward regulating online gambling and introducing new licensing regulations for online gambling enterprises under Equatorial Guinea's jurisdiction is the granting of its first license of its sort.
In order to maintain industry integrity, consumer protection, and adherence to global best practices, the government of Equatorial Guinea is pushing the new regulatory framework, which lays out strong guidelines for monitoring online betting, online casinos, and remote online gambling in Equatorial Guinea.
Multinational online gaming enterprises will be able to use Mascott Capital Partners’ digital platform to help submit applications for online gaming licenses, thanks to this new online gaming master license. Equatorial Guinea's promotion as a recognized jurisdiction for remote online gaming, online gambling, and online casino enterprises has advanced significantly with this endeavor.
To guarantee adherence to anti-money laundering (AML) regulations, applicants for the new online gaming license under Equatorial Guinean law must submit to frequent audits. Businesses must also fulfill a financial requirement to guarantee they can return user cash and protect players by informing them of the dangers of gambling on their websites.
In order to keep children from visiting their websites, operators are required to implement a rigorous age verification mechanism. Websites that offer online gaming, betting, and casinos must also forbid individuals who are susceptible to gambling-related problems, like addiction, from using their services. They also need to stop deceptive advertising and give players extra rules. In order to support investigators in their work, they must also keep financial records for a maximum of 5 years.
The country’s authorities have said they plan to compete with jurisdictions such as Curaçao and Anjouan.
