Income From Gaming Duties to Reach €19m

MEDIA ROOM

As published in The Times of Malta, income in gaming duties from the remote gaming sector will reach €19 million this year, Finance Minister Tonio Fenech told the first Malta iGaming Seminar at Le Meridien in Balluta.

Last year, the country generated €15.6 million in revenue, an increase of 35 per cent from the previous year.

“The government sees such an increase not as an increase in tax generated, but as an increase in economic activity which generates the multiplier effect throughout our economy,” the minister said.

CSB Group joined forces with Greentube AG, Megabyte Ltd, BMIT Ltd, VacancyCentre.com and Re/Max (Malta), to host the full-day event which aimed to enable delegates interested in setting up or relocating to Malta to meet key local suppliers to the industry.

Lotteries and Gaming Authority chairman Nick Xuereb hailed Malta as one of only two countries in the EU, along with the UK, that possess an iGaming regulatory framework. Over 2,500 employees are directly employed in the iGaming industry, with a further 2,500 employed indirectly with service providers.

A high percentage of employees fall between the ages of 20-29, many possessing a graduate or post-graduate level of education. A third of employees are Maltese; the rest come from 68 different countries.

During CSB’s presentation, Andrew Zammit, group legal counsel and managing partner of Zammit and Associates (Advocates), showcased the Maltese jurisdiction, highlighting the numerous advantages it offers and stressing why delegates should choose Malta as their gaming destination.

The chief executive officers from Expekt and Unibet told their ‘Malta story’, sharing their experience about relocating to Malta. They also spoke about the incentives that are available to igaming companies from the regulator.

Also partnering the conference was VacancyCentre.com, an associate of CSB Group. Recruitment executive Caren Portelli gave a presentation on the excellent human resource and recruitment opportunities available locally.