Government grants a Master License to Mascott Capital Partners

The Government of the Republic of Equatorial Guinea has granted a Master License for Online Gaming, Online Betting and Online Casino, 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, as an integral part of its strategic positioning, to attract international investment to the economy.

The Minister for Tourism and Tourist Infrastructure of Equatorial Guinea, Antonio Oliveira Borupu, exercising the powers conferred by Law 2/1995, of January 3, which regulates the Authorization, Operation and Control of Games of Leisure and Chance in the Republic of Equatorial Guinea, granted Mascott Capital Partners the master license for online remote gaming , online betting and online casino in the online category, having met the corresponding criteria, requirements and tax obligations in accordance with Law No. 10/2017 of November 20. The law establishes new tax rates and defines parafiscal levies in the Republic of Equatorial Guinea.

The granting of the online gaming master license is a first for Equatorial Guinea, as it represents a significant step in the regulation of digital gambling and the introduction of new licensing guidelines for online gambling operations under Equatorial Guinea’s jurisdiction.

The Government of Equatorial Guinea is promoting the new regulatory framework, which establishes robust guidelines for overseeing remote online gambling, online betting, and online casino activities in Equatorial Guinea and is designed to ensure industry integrity, consumer protection, and compliance with international best practices.

An Online Gaming, Online Betting, and Online Casino Licensing Framework will introduce new measures aimed at curbing illegal gambling activities under Equatorial Guinea’s jurisdiction, improving consumer protection, increasing government revenue from gambling, and supporting B2C (business-to-consumer) operators involved in remote online gambling, online betting, and online casino gaming.

The framework outlines clear application processes, compliance requirements, and financial obligations to promote a transparent and responsible gaming environment under the sovereign laws of the Republic of Equatorial Guinea.

The launch of online gaming, online betting, and online casinos in Equatorial Guinea is one of the most significant measures taken by gaming regulators in the country’s history.

Mascott Capital Partners’ digital platform to assist in submitting online gaming license applications. This initiative represents a significant step forward in promoting Equatorial Guinea as a recognized jurisdiction for remote online gaming, online gambling, and online casino businesses, and in diversifying Equatorial Guinea’s economy, attracting international investment to the digital space, and strengthening consumer confidence in the remote online gaming services provided under Equatorial Guinea’s jurisdiction. Recognizing Equatorial Guinea as an international destination of choice for online gaming, online betting, and online casinos.

Mascott Capital Partners and its licensed partners utilize a proprietary software system to support and manage all remote gaming licenses through a single portal.

All remote online gaming, online betting, and online casino businesses must apply for the new Online Gaming License under Equatoguinean law. Remote online casinos must undergo regular audits to ensure compliance with anti-money laundering (AML) laws, which includes requesting user identification and reporting suspected fraudulent transactions to authorities. Companies must also protect players by providing information about the risks of gambling on their websites and must meet a financial threshold to ensure they can repay user funds.

Operators must follow a strict age verification system to prevent minors from accessing their websites. Online gaming, online betting, and online casino sites must also prohibit vulnerable users to gambling-related risks, such as addiction, from accessing their platforms. They must also provide bonus rules to players and eliminate misleading advertising. They must also retain financial records for up to five years to assist investigators in their operations.

Source: General Directorate of Written Press, Government Institutional Website (DGPEPWIG) Equatorial Guinea’s Press and Information Office Read the Orginal Article Here