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Further expansion of Malta's gaming industry

16.06.2017

A report by the National Statistics Office (NSO) highlighted how the gaming industry in Malta has continued to expand over the first three months of this year. When compared to the first quarter of last year, the report shows that the number of applications for a remote gaming license have doubled from 22 received in 2016, to 44 received in the same period of 2017. There was also an increase in the number of licenses issued during the first quarter of the year with a total of 26 new remote gaming licenses issued in 2017 when compared to those issued in 2016 which totalled to 14. With this increase, the Malta Gaming Authority (MGA) now holds a total of 543 licenses issued as at the end of 2017’s first quarter.

During the first three months of 2017, the NSO estimated that this industry has directly contributed 13% to the Maltese Gross Value Added (GVA), a substantial increase when compared to the 3% contributed to the 2016 GVA. Such a positive boost has resulted in further employments within the sector which now totals to 5,458 people who are directly employed within the gaming sector. This figure excluded more people who are employed within the sector indirectly.

In a press release issued by the MGA, Chairman Mr. Joseph Cuschieri said, “While the MGA acknowledges the positive results achieved during the first quarter of 2017, the Authority is committed to its continuous improvement programme to enhance its service delivery, governance and supervision of all gaming activities in and from Malta. Our priority remains to ensure fairness of games, protection of minors and vulnerable persons and the prevention of crime, fraud and money laundering. Our key focus for the coming years shall be to raise quality & standards across all gaming sectors, raise the bar in the overall governance and supervision of the gaming sector, engage and build partnerships with other jurisdictions, key stakeholders and regulators, explore new growth areas including niche gaming sectors and innovations and enhance consumer protection mechanisms and empowerment”.

Nexia BT can provide assistance for a portfolio of services in connection with the gaming industry in Malta, including incorporation and tax advice of the appropriate corporate structures, assistance in the licensing application, provision of Key Official, tax compliance, accounting, assurance and IT Audit services.

Get in touch with Karl Cini | Partner, Oliver Zammit | Director, for further information in relation to gaming and the process of licensing.