iGaming Companies in Malta

Gaming companies in Malta account for around 12% of the country’s GDP. Since 2001, Malta has provided a flexible and effective online gambling licence regime which has seen many of the world’s biggest remote gaming names flock to the island.

Furthermore, some 12,400 people are employed within the sector, accounting for around 5% of the entire workforce. As global gambling continues to grow at an impressive but sustainable rate, so does the Maltese sector. For entrepreneurs looking to start a gambling or betting company, Malta is an ideal, respected European base.

Requirements to Establish a Remote Gaming Operation in Malta

In order to provide a gaming service or a critical gaming supply from Malta or to any person in Malta, or through a Maltese legal entity one needs to be in possession of the relevant license issued by the Malta Gaming Authority (‘MGA’). In the event that the prospective licensee also wishes to set up a Malta company to undertake the same, one would need to also consider incorporating a company, registering for tax, and setting up a bank account amongst other actions in order for the company to be fully operational.

It is pertinent that prospective licensees take into account any and all statutory requirements in terms of compliance. Licensees need to ensure that they conduct their business in compliance with any and all laws and regulations applicable to them, including but not limited to, payment of periodic fees, audits and submission of periodic reporting. Additionally, it is also pertinent that one considers the employment of personnel or obtainment of professional services in order to ensure compliance.

Types of Gaming Licensees in Malta

In order to provide a Gaming Service or Critical Gaming Supply, as evidenced above, one needs to be in possession of a gaming license. There currently exist two types of gaming licenses:

Other service providers to the Remote Gaming Industry

Payment providers

Payment providers are other entities that work together with gaming companies in Malta to facilitate payments between the player and the licensee, and vice versa. Some are general and can be used for various sectors and industries, while others are specific to the sector. These providers accept different denominations of fiat currency, and some accept cryptocurrency as well. Payment providers must also be licensed and adhere to specific compliance requirements.

Affiliates

Affiliates are companies or individuals that work to promote online casino services. The affiliate will direct traffic to the operators’ site or product, and in return, they take a cut of the profit or a fee for every new depositing customer and depending on the deal can get a share of the revenue for the lifetime of the customer. In the gambling sector, working with an affiliate is necessary to get visibility for your site. It is also a great line of business for entrepreneurs to be in, particularly if you have an innovative approach.

Remote Gaming Human Resources

Remote Gaming has been a contributor to the Maltese economy for almost 20 years. As a result of the same, a vast and talented pool of local human resources has accumulated during the years . Malta has further strengthened its knowledge base and resource sharing by making available courses and qualifications at all academic levels relevant to the remote gaming industry. Additionally, a number of gaming operators and service providers allow for internship to further build the knowledge base of students by providing hand-on experience during their learning journey. Consequently, whilst acknowledging that there is still the need for additional resources, it can be asserted that Malta does in fact provide the industry with qualified, experienced and knowledgeable talent pool for its operation.

iGaming Conferences in Malta

As a hub of the Remote Gaming sector, Malta is also host to a number of big-name iGaming conferences. SiGMA is one of the largest and is typically held in the autumn each year. Others include iGaming NEXT Valletta, CasinoBeats Summit, and the Malta iGaming Seminar.

The future of iGaming in Malta and the iGaming industry

The online gambling sector is expected to grow at a compound annual growth rate of around 12% over the next five years, reaching more than €106 billion by 2026. While this value is spread across other jurisdictions, Malta will continue to account for a section of it. Thus, for operators looking for a welcoming business environment, knowledgeable ecosystem and robust license Malta is the obvious choice. Furthermore, the government remains committed to nurturing the sector and ensuring it continues to benefit the country economically.

How CSB Group can Help

If you are considering establishing a remote gaming operation in Malta, CSB Group can help. With decades of experience and a highly skilled and professional team of experts on hand, we are ready to guide you through the process. From incorporating a company, tax advisory, and licensing, all the way through to compliance, contact CSB group today.