Cap. 400 Art. 39Gaming reserve.

(1) Upon the grant of a casino licence, the casino licensee shall establish a formal reserve in an amount to be fixed by the

Authority which will protect the casino against a run of gaming losses and therefore ensure that punters are paid out after a large win and which will provide comfort that the casino licensee has adequate financial resources to carry on the business of casino gaming to acceptable and proper standards and without imminent risk of closure or liquidation.

(2) The gaming reserve shall be in the form of a deposit held with a bank established in Malta and or any other security held on the licensee’s behalf by such bank acceptable to the Authority. The casino licensee shall cause the bank to confirm existence of such a reserve to the Authority, as and when requested by the Authority, and in any case annually upon every anniversary of the licence.

(3) Should it be necessary for the reserve to be drawn upon, the casino licensee shall immediately inform the Authority and shall restore the reserve within two months and shall thereupon cause the bank to confirm its restoration to the Authority.