Gambling industry in Malta creates 6,800 jobs

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Lennart folder December 29, 2018

The Maltese gambling authority published its first interim report on the performance of the online and offline gambling industry in the first half of 2018 last week. According to the report, the gaming sector in Malta made more than 6,800 full -time -equivalent jobs in Malta. The online casino sector was particularly strong in sales.

The MGA is responsible for licensing all online providers registered in the country.

Valletta, Malta – The Maltese gambling authority MGA has hers last week First interim report for the online and offline gaming industry published for the first half of 2018. In it, the authority not only draws conclusions about its own performance such as the number of licenses awarded, but also lists key figures for employment and value creation in the gambling sector. To the Interim report of the MGA According to the Republic of Malta, with direct taxes on online gambling in the first half of the year, 13.6 million $ .

Millions of industry

Due to its extensive design of the legal area, the island state in Mediterranean has become an attractive location in the industry. Of course, this also affects the Maltese economy, which is now largely shaped by the gambling sector. Not only traditional local casinos are enjoying higher number of visitors thanks to the increased tourism and national income. The online gambling industry, based in the country, is also growing splendidly and gives the Maltese state higher tax revenue. Especially there steadily New online casinos push onto the market.

The Maltese economy is strongly geared towards the Igaming industry.

According to the key figures published in the report, the Gambling industry around 12% of gross value added in the country. The sector also grown faster than the overall economy in the first half of 2018 with a growth of 12.1%. The entire extent of the industry is also evident in the 6,850 full -time equivalents that the gaming sector has created in the country.

Booming online industry

the long -distance game industry can undoubtedly have a large increase. compared to the previous year, the number of licenses awarded for online game operations rose by 18.5%. in the middle of the year, the mga led 291 companies with at least one neighborhood license. licenses are kept in different categories. the most frequently awarded permission is type 1 license, which provides providers to align classic casino games with repetitive process such as roulette or slot machines and online lotteries. as expected, the greatest growth took place here in the first half of 2018 compared to the previous year. type 2 summarizes licenses for betting games and sports betting. the second largest share can be found here with 18.3%. the least awarded licenses were for services such as poker networks, in which several players compete against each other and to provide construction licenses to provide games and services from other providers. by simplification of gambling laws in summer 2018, more applications and licensing will continue to be expected in the future. the so -called binocary game in men between 25 and 34 years is particularly popular. a statistics listed in the report assume that only 21.5% of the players in the online sector are female. overall, the online gambling sector of the republic of malta gave direct directs in the first half of 2018 Tax revenue of 13.6 million $ . About half of this amount was taken with the taxation of sports betting. Online casinos make up about a quarter of the taxes taken online. On the other hand, the proportion of tax order by poker networks is comparatively insignificant.

What do you need for Maltese happiness for happiness? Before granting a permit, the MGA gambling checks the applicant’s business plan. It is then assessed whether the provider can comply with all legal provisions. Finally, a system test is carried out in which the applicant’s software is checked for its technical functionality.

Visitor numbers of local casinos also increase

Four licensed local casinos are currently operated in Malta. This includes the Dragonara, Portomaso, Oracle Casino and the Casino Malta. Imme more visitors come from abroad as tourists. The report also allows further conclusions to be drawn about the player profile. According to the number of visitors recorded, the desire to play increased, especially among the 35- to 54-year-olds. The number of visitors for over 65-year-olds decreased by 19%, but this age group with visitor shares of almost 30% accounts for the largest demographic group. With a gender balance of 38.5% to 61.5%, at least land-based games are still much more popular among men than in women. On the other hand, the number of arcades comparable to the American automatic casinos is significantly higher. According to the figures raised for the report, these establishments mainly attract local middle -aged players.

New laws for the entire gaming market

The first half of 2018 for the game industry based in Malta was particularly shaped by the revision of the applicable gambling laws by the Maltese Parliament and State Secretariat for Finance. The amendment to the law summarizes older regulations and replaces them in order to create a uniform, coherent gambling law and abolish multiple controls. The position of the gaming authority was also strengthened by the new edition. For example, this now has more capacities to monitor compliance with money laundering and data protection regulations. For this, the authority has grown to 166 employees.

What is the MGA responsible for? The Maltese gambling authority was created to ensure the game fairness, protect minors and perspective at risk of addiction and to act against fraud and money laundering. Her tasks include creating game regulations and guidelines, the allocation and management of licenses and monitoring game activities. The agency also processes complaints from players and advises the Maltese government with its expertise in developing new laws for the gaming sector.