Lottery operators’ €44 million boost to buoyant growth figures

National lottery operators Maltco have announced that following the successful financial bid for a second 10-year concession related to the operation of lotteries in Malta - in which it had the highest offer at €39,100,000, it is now investing a further €5 million to improve the quality of service offered to its customers.

Finance Minister Tonio Fenech thanked Maltco during a visit to its offices for its trust and commitment to Malta.

"The company has been operating the local lotteries since 2004, during which it has undertaken significant investment to improve the quality of games offered to its customers. Last year, following a competitive tendering process whereby Maltco satisfied all the technical requirements and submitted the most advantageous financial bid of €39,100,000 it was awarded a 10-year concession and a second licence to operate the National Lotteries."

This year, Maltco has embarked on a complete overhaul to its existing games portfolio introducing the game of the Grand Lottery, among others. This complete overhaul was made possible as the company re-invested significantly in the latest state-of-the art technology and equipment focusing primarily on more operational features such as the digital cameras and the ticket checkers which add to both the Agents' and Players' value-added service.

This investment, which also includes the installation of terminals in all Agents' outlets distributed across Malta and Gozo, reached €5 million.

Up until the 1st quarter of 2012, Maltco has contributed more than €130 million to the Maltese economy in way of licence fees, lottery duty, unclaimed prizes and taxes.

During this visit, Fenech referred to European Commission's Winter Forecast which confirmed Malta's standing-out performance in terms of economic growth and jobs.

The EU forecasts that Malta will have the second highest growth rate in the euro area at 1.5%. Cyprus, a similar island-state, will see a decline of 3.5%.

"This is the reality we are facing on our doorsteps. This is why we have to continue ensuring the stability of our finances, invest in the right incentives to attract more FDI and support further local business growth," Fenech said.