directors, and confirms they can sit within Rome II’s framework. Tat won’t automatically create director liability everywhere - but it makes the pathway clearer for claimants to try, particularly where the operating entity is insolvent or hard to enforce against.


Practical knock-on: expect renewed attention on D&O coverage, indemnities, governance documentation, decision logs, and “who authorised what” in market-entry decisions.


3) Multi-jurisdiction compliance becomes less optional


A single MGA licence does not, on its own, immunise an operator from the consumer-law and gambling-law consequences of targeting players in Member States that require a local licence (or have strict channelisation rules). Wunner doesn’t decide whether Austria’s approach is proportionate under EU law, but it does decide which law will govern the damages analysis when the claim is framed in tort.


4) Payments, affiliates, and marketing controls are a priority


In many player-restitution disputes, the targeting evidence is key: local language, local payment rails, localised bonuses, affiliate activity, and geo-targeted advertising. If the applicable law is likely to be the player’s home law, then the whole acquisition stack (not just licensing posture) becomes more legally determinative.


THE MALTA ANGLE: WHAT’S BEING DONE TO COUNTERACT THE ENFORCEMENT RISK


Malta’s response to cross-border player claims has been building for years - and Wunner lands while that strategy is actively being tested.


Malta amended its Gaming Act to include Article 56A (widely referred to as “Bill 55”) to allow Maltese courts, as a matter of Maltese public policy, to refuse recognition and/or enforcement of certain foreign judgments against Malta-licensed gaming companies where those judgments are seen as undermining the legality of gaming services provided under an MGA licence.


Tat matters because many claimant strategies rely on obtaining judgments in a player’s home state and then enforcing against assets or entities with a Malta nexus. In June 2025, the European Commission issued a Letter of Formal Notice to Malta in relation to Article 56A, signalling concerns about compatibility with EU law (including the Brussels I Recast enforcement framework).


Te MGA has publicly argued that Article 56A is not a blanket ban and fits within recognised EU-law concepts such as public policy exceptions.


MALTA’S COURTS ARE ESCALATING THE DISPUTE


Recent reporting and legal commentary indicate the Maltese courts have begun affirmatively relying on Article 56A to resist recognition/enforcement attempts tied to foreign judgments in gambling-loss cases, reinforcing Malta’s “public policy” position. Te immediate read-across for operators: even if Wunner helps claimants choose a favourable applicable law, they still have to turn judgments into money. Malta’s strategy is aimed squarely at that last mile: enforceability.


SO WHERE DOES THIS LEAVE OPERATORS — PRACTICALLY?


If you’re an EU-facing operator (or supplier) with any cross-border exposure, Wunner is a cue to re-audit three areas:


Market access map: Where do you accept play, and where do you actively target? If “local licence required” jurisdictions exist in your footprint, quantify worst-case claim exposure under that state’s law.


Governance + D&O readiness: Board minutes, decision rationales, compliance sign-offs, delegated authorities, and D&O coverage terms should match the reality that directors can be named.


Enforcement-proofing (and its limits): Malta’s Article 56A may slow or block enforcement in Malta, but it doesn’t necessarily prevent claimants pursuing assets, PSP relationships, IP, group entities, or bank accounts outside Malta.


WHAT TO WATCH NEXT


How national courts operationalise Wunner. Te ruling sets the conflict-of-laws compass; the national litigation outcomes will determine the real financial impact.


Te Commission’s next steps on Malta. Te infringement track that began with the 2025 formal notice could become more consequential as Maltese courts apply Article 56A in practice.


Enforcement innovation. If recognition/enforcement is blocked in one jurisdiction, claimant strategies typically adapt — especially in an industry where business operations and asset footprints are international.


Bottom line: Wunner doesn’t end the EU’s licensing patchwork — but it makes it riskier to pretend that patchwork won’t catch up with you. Te direction of travel is clear: player-home jurisdiction is increasingly where the legal consequences land, while Malta is increasingly focused on stopping judgments at the border.


135


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112  |  Page 113  |  Page 114  |  Page 115  |  Page 116  |  Page 117  |  Page 118  |  Page 119  |  Page 120  |  Page 121  |  Page 122  |  Page 123  |  Page 124  |  Page 125  |  Page 126  |  Page 127  |  Page 128  |  Page 129  |  Page 130  |  Page 131  |  Page 132  |  Page 133  |  Page 134  |  Page 135  |  Page 136  |  Page 137  |  Page 138  |  Page 139  |  Page 140  |  Page 141  |  Page 142  |  Page 143  |  Page 144  |  Page 145  |  Page 146  |  Page 147  |  Page 148  |  Page 149  |  Page 150  |  Page 151  |  Page 152  |  Page 153  |  Page 154  |  Page 155  |  Page 156  |  Page 157  |  Page 158  |  Page 159  |  Page 160  |  Page 161  |  Page 162  |  Page 163  |  Page 164  |  Page 165  |  Page 166  |  Page 167  |  Page 168  |  Page 169  |  Page 170  |  Page 171  |  Page 172  |  Page 173  |  Page 174  |  Page 175  |  Page 176  |  Page 177  |  Page 178  |  Page 179  |  Page 180  |  Page 181  |  Page 182