Soft2Bet, SIGMA and the Politics of Malta’s iGaming Landscape

Soft2Bet, SIGMA and Malta’s iGaming Politics

Soft2Bet’s place in Malta’s iGaming politics should be assessed through the public record, legislative proposals and the regulatory safeguards applying to the sector. This investigation separates documented policy developments from claims about political influence. The Parliament of Malta, the Malta Gaming Authority and Malta Media’s related transparency analysis provide context.

Proximity and Appearances: Soft2Bet, SIGMA and the Politics of Malta’s iGaming Landscape

In March 2024, the inauguration of Soft2Bet’s new offices at Quad Central in Birkirkara was marked by notable public celebration. The event was widely portrayed as a milestone for Malta’s gaming and fintech sectors, with Economy Minister Silvio Schembri attending alongside the company’s senior leadership team.

Among those present were CEO and founder Uri Poliavich, General Counsel David Yatom Hay, COO Gilad Naim, CMO Oksana Tsyhankova, CFO Max Portelli, CPO Yoel Zuckerberg and CBDO Martin Collins.

A separate event in March 2025, organised in collaboration with SIGMA, featured both Prime Minister Robert Abela and Economy Minister Schembri, with SIGMA represented by its founder Eman Pulis. This high-profile engagement further signalled Malta’s ongoing efforts to position itself as a leading jurisdiction for international gaming operators.

At the same time, it underscored the close interaction between political leadership and key stakeholders in the iGaming industry, including companies that have previously operated in legally complex environments. While the official narrative emphasised economic growth and innovation, the broader context reveals a more layered reality.

Soft2Bet, despite its recent licensing progress and rebranding strategy, has been the subject of public commentary and regulatory attention in multiple jurisdictions. Past concerns have focused on the company’s association with brands that were reportedly accessible in markets where they lacked local authorisation.

Although the group has since acquired licences in a number of regulated markets, the historical record invites continued scrutiny. As early as 2021, enforcement actions and warnings issued by regulators in countries such as Sweden and Germany identified specific brands associated with Soft2Bet as operating without full local compliance.

To date, there are no criminal charges or official allegations of wrongdoing against Soft2Bet or any of its executives in Malta.

 Nonetheless, the highly visible participation of senior government officials at celebratory functions connected to such a company raises legitimate questions, particularly when set against the backdrop of increasing concern about political transparency and financial disclosure standards.

Ministerial Silence and the Transparency Gap

In recent years, various media outlets and legal commentators have drawn attention to discrepancies or omissions in the financial declarations of senior government officials in Malta. Both Prime Minister Robert Abela and Economy Minister Silvio Schembri have been at the centre of such discussions.

In 2022, declarations tabled by Prime Minister Abela did not reflect a €180,000 land acquisition in Xewkija, Gozo. The transaction (confirmed via a published contract) was not mirrored in any corresponding reduction in reported bank holdings or offset by declared property disposals. When questioned, the Prime Minister stated that his declarations were “complete and correct,” but did not offer further clarification regarding the financing of the purchase.

In 2023, the Office of the Prime Minister declined to release updated asset declarations for the cabinet, prompting a formal complaint and subsequent enforcement notice by the Information and Data Protection Commissioner. The Commissioner concluded that the government’s refusal to comply with a Freedom of Information request was inconsistent with legal obligations under the FOI Act and ordered publication within a set timeframe. As of the time of writing, the requested declarations for 2023 remain unpublished.

Economy Minister Silvio Schembri has likewise been subject to questions regarding apparent inconsistencies between his declared income and aspects of his personal lifestyle. Public documentation, including media reporting and legal applications, has raised queries about property use, tuition arrangements and leisure assets.

Minister Schembri has previously responded to such concerns by citing clerical mistakes or unintentional omissions and has denied any suggestion of impropriety. Nonetheless, the persistence of these questions has contributed to a wider public perception of insufficient financial transparency within the executive branch.

Bill 55 and Legislative Implications

The broader political context has been further complicated by the passage of Bill 55 in 2023. Introduced by Minister Schembri, this legislative amendment prevents the enforcement in Malta of certain foreign court judgments, especially in cases involving entities licensed under Maltese gaming law.

The government has presented the law as a measure designed to safeguard national jurisdictional authority and shield Maltese-registered firms from judgments that, in its view, may conflict with domestic legal standards. However, this legislative development has drawn significant concern from legal observers, both locally and abroad.

A number of international law experts, civil society organisations and regulatory bodies within the European Union have expressed the view that Bill 55 could hinder the enforcement of consumer rights across borders and may weaken reciprocal recognition of judicial decisions within the EU legal framework.

Although the law has not been annulled or challenged in court at the time of writing, its continued presence contributes to a perception that the regulatory environment in Malta may prioritise domestic protection over broader legal accountability. These concerns are compounded when considered alongside the limited transparency around ministerial financial declarations and the proximity of key political figures to industry players who may benefit (directly or indirectly) from such legislation.

Public Endorsement, Private Questions

There is no evidence to suggest that either Prime Minister Abela or Minister Schembri have received financial or material benefits from Soft2Bet or SIGMA. Their appearances at public events associated with these entities were officially framed as part of their roles in promoting investment and economic development.

However, in the current climate, where questions of transparency remain unresolved, such engagements have prompted discussion regarding the appropriateness of such visible endorsements.

In Malta’s compact political and business ecosystem, public appearances carry symbolic weight. Where regulatory oversight must remain robust and independent, the optics of political leaders associating with firms that have faced international scrutiny may blur the perceived boundaries between government and industry.

The absence of up-to-date, publicly available asset declarations further complicates the issue. Delays in disclosure, especially where coupled with legislative changes that appear to benefit certain sectors, risk undermining the integrity of Malta’s governance structures. While not proof of wrongdoing, these elements collectively invite closer scrutiny from the public, the media and Malta’s institutional watchdogs.

Conclusion: A Systemic Concern

There is no allegation of unlawful conduct by Soft2Bet in connection with its engagement with government figures, nor is there any conclusive evidence of financial impropriety involving Prime Minister Abela or Economy Minister Schembri. However, the recurring combination of opaque disclosures, regulatory carve-outs and political visibility in the gaming sector suggests a wider structural issue deserving of public debate.

In a jurisdiction that has faced international questions regarding the robustness of its governance, full transparency in both public declarations and policy motivations is essential.

FAQs

What is the main focus of the article about Soft2Bet and SIGMA in Malta?
The article explores the intersection of Malta’s political leadership and the iGaming sector, focusing on Soft2Bet’s public events and the implications of political proximity, regulatory scrutiny, and transparency concerns.

Why are Prime Minister Abela and Minister Schembri mentioned in relation to Soft2Bet?
Both leaders attended events linked to Soft2Bet and SIGMA, raising questions about the optics of political endorsements, especially given broader concerns about transparency and regulatory integrity.

Has Soft2Bet been accused of illegal activity in Malta?
No. There are no criminal charges or formal allegations of wrongdoing against Soft2Bet or its executives in Malta at the time of writing.

What past regulatory issues have been linked to Soft2Bet?
Regulators in countries such as Sweden and Germany previously flagged Soft2Bet-associated brands for operating in their markets without proper local authorisation, particularly around 2021.

What is Bill 55 and why is it controversial?
Bill 55, introduced in 2023, restricts enforcement of certain foreign judgments in Malta, particularly involving gaming companies. Critics argue it may undermine cross-border consumer protections and EU legal coherence.

What transparency concerns exist regarding Maltese ministers?
Media and legal observers have flagged omissions in financial declarations by senior officials, including unexplained property transactions and lack of updated disclosures.

Did Minister Schembri or Prime Minister Abela gain financially from Soft2Bet or SIGMA?
There is no evidence to suggest any direct financial or material benefits were received by either official from these entities.

How has the public reacted to the close ties between industry and government?
Public discourse increasingly questions the appropriateness of such associations, especially given ongoing concerns about transparency, oversight, and impartial governance.

What broader issues does the article highlight about Malta's governance?
The article points to systemic challenges, including a lack of financial transparency, selective legislation favoring domestic entities, and the blurred lines between political authority and private industry.

Why is the situation in Malta significant for the wider iGaming sector?
As Malta remains a central jurisdiction for online gambling operators, its regulatory stance and political transparency have broad implications for investor confidence, international oversight, and legal accountability across Europe.