€333.1 million gambled in land-based gaming sector in 2015

The Malta Gaming Authority generated a total revenue of €60.9 million in 2015, an increase of 4.3% over 2014’s €58.4 million.

Contributions in gaming taxes made to government in 2015 amounted to €55.8 million compared to €53.2m in 2014; an increase of €2.6m or a 4.9% increase year on year.

In its 2015 annual report, the MGA – the single governing body for the regulation of the gaming industry in Malta – said that during the year under review, the local gaming sector in Malta continued to experience healthy growth in both the land-based and remote gaming sectors.

The sector also made a direct contribution of 8.2% to Malta’s Gross Value Added in the economy.

The land based gaming sector grew by 3% in 2015, with total gross gaming revenue reaching €78.1 million.

Amounts played in the land based sector reached a total of €333.1 million with total winnings amounting to €255 million.

The MGA said that new legislation would provide an innovative regulatory framework which is robust and flexible enough to provide for effective regulatory oversight and at the same time facilitate industry growth and evolution,

The setting up of a Supervisory Council with the responsibility for the integrity, consistency and ongoing development of the Authority’s regulatory performance, would further strengthen the authority’s regulatory oversight function.

The Gaming Malta Foundation was set up with the aim of promoting Malta both locally and internationally as a leading jurisdiction and centre of excellence in the gaming industry.

In 2015, the Authority’s corporate identity was completely refreshed to signal a new vision for the industry through the rebranding of the Lotteries and Gaming Authority into the Malta Gaming Authority. The Authority also relocated to new offices at Smart City Malta. 

MGA executive chairman Joseph Cuschieri said that 2015 had been a very intensive and rewarding year on many fronts for the authority.

“The results strengthen our determination to continue with our plans to enhance our regulatory performance,” he said. “The aim of the three-year strategy launched in 2014 is to create a sustainable industry base in the face of the challenges emanating from the European and global gaming sphere, as well as harnessing the growth of the sector through the diversification of markets and products made possible by innovative technologies and emerging markets.”

Cuschieri said “An increased focus on quality, innovation, fairness, consumer protection, proportionality, evidence based regulation and consistency run through the building blocks of the Authority, its processes and the policy initiatives being taken up which are an integral part of the underlying strategy.”

Throughout 2015, the Authority’s efforts were committed to a fully inclusive and transparent approach in the reviewing and design of policy and administrative initiatives, whilst keeping an open dialogue with all stakeholders, consumers, regulators, operators and service providers.

The regulatory framework overhaul is critical for the successful implementation of the gaming repositioning strategy in rendering Malta as a centre of excellence of global relevance in the future.

Although Malta’s second generation of gaming regulation remains founded on the prevention of crime and fraud, fairness of games, consumer protection and other vulnerable consumers, the legislative structure and regulatory approaches proposed for adoption in 2016, will provide a coherent governing regime that is principle-based, focused on regulatory performance and outcomes.