Equatorial Guinea has taken its first formal step into the online gambling sector, awarding its inaugural Online Gaming Master License to a Cyprus based private company.
The move marks the country’s entry into a regulated framework covering online casinos, sports betting, and other digital gaming products.
The announcement was made by Minister of Tourism and Tourism Infrastructure Antonio-Pedro Oliveira Burupu, under the authority of Law 2/1995 and reforms introduced in Law 10/2017. Government officials described the development as a “pivotal moment” for economic diversification and digital sector growth.
Burupu noted that the launch of regulated online gaming is among the most significant regulatory measures in the nation’s history. Cyprus based Mascott Capital Partners will operate a proprietary digital platform to process license applications, monitor compliance, and issue approvals to international gaming companies seeking market entry.
Under the new system, all prospective operators must work through Mascott Capital Partners to access Equatorial Guinea’s online gambling market. The framework introduces mandatory age verification, anti-money laundering protocols, and regular financial and operational audits. It also outlines taxation procedures, operational standards, and safeguards aimed at ensuring responsible gaming.
The government has positioned Equatorial Guinea as an alternative offshore licensing destination alongside jurisdictions such as Curacao, Nevis and Anjouan. Officials said the aim is to create an investor-friendly environment while maintaining adherence to international best practices and consumer protection standards.
The initiative is part of a broader strategy to generate new revenue streams for public services. Authorities stressed that responsibility for compliance rests with license holders, with strict penalties for violations.
The FATF identified Equatorial Guinea as having made significant progress in addressing strategic deficiencies in its anti-money laundering and counter-terrorist financing regime.
While Equatorial Guinea was removed from the Financial Action Task Force grey list (also known as the “list of jurisdictions under increased monitoring”) on October 29th, 2023, the country is still facing scrutiny from the FATF due to failings in its anti-money laundering and counter-terrorist financing (AML/CFT) framework. While the country has shown some improvement, particularly in the banking sector, key areas like asset declaration transparency and addressing corruption remain problematic. These are factors that could influence its standing, and ultimately its success, in an ever more crowded grey market licensing marketplace.
