Malta’s online and retail gaming industry grew by 4.3 percent in 2015, bringing in revenues of €60.9m, according to new figures released by the Malta Gaming Authority (MGA).
The gaming industry, which now accounts for 8.2 percent of Gross Value Added (GVA) in the Maltese economy, also contributed €55.8m in gaming taxes – up 4.9 percent from €53.2m in 2014.
Outside of remote gaming – a mainstay of the country’s economy – the land-based gaming sector grew by three percent year on year, with total gross gaming revenue reaching €78.1m. Amounts played in the land-based sector reached a total of €333.1m with total winnings amounting to €255m.
“2015 has been a very intensive and rewarding year on many fronts for the MGA,” said MGA executive chairman Joseph Cuschieri. “The results strengthen our determination to continue with our plans to enhance our regulatory performance.”
The results strengthen our determination to continue with our plans to enhance our regulatory performance.”
The news comes as the MGA continues its regulatory overhaul, a move that it claims will “provide for effective regulatory oversight and at the same time facilitate industry growth and evolution”.
During the financial period to 31 December 2015, the MGA also established the Gaming Malta foundation – a promotional body that aims to position the jurisdiction as a centre of excellence for gaming both locally and internationally.
“The aim of the three-year strategy launched in 2014 is to create a sustainable industry base in the face of the challenges emanating from the European and global gaming sphere, as well as harnessing the growth of the sector through the diversification of markets and products made possible by innovative technologies and emerging markets,” explained Cushieri.
“An increased focus on quality, innovation, fairness, consumer protection, proportionality, evidence-based regulation and consistency run through the building blocks of the Authority, its processes and the policy initiatives being taken up, are an integral part of the underlying strategy.”