Malta overcomes PoC impact during ‘rewarding’ 2015

Malta overcomes PoC impact during ‘rewarding’ 2015

Monday, June 27, 2016 Totally Gaming
The country saw a decrease in its number of licensed operators

Malta’s gaming sector produced a slight increase in revenue during 2015, but also saw a decrease in the number of licensed operators.

The Malta Gaming Authority (MGA) reported revenue of €60.9m ($67.3m) for the 12 months to December 31, 2015, which was a year-on-year increase in revenue of four per cent. A total of €55.8m was collected in gambling taxes, up from €53.2m in 2014, while the sector made up 8.2 per cent of Malta’s economy, which was slightly down on last year.

The MGA said the number of remote gaming companies holding licences decreased from 283 in 2014 to 269, with the regulator attributing this fall to “a number of mergers and acquisitions and voluntary and involuntary termination of licences”.

“2015 has been a very intensive and rewarding year on many fronts for the MGA,” said Joseph Cuschieri, executive chairman at the MGA. “The results strengthen our determination to continue with our plans to enhance our regulatory performance.

“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.

"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, are an integral part of the underlying strategy.”

TotallyGaming.com says: “Malta experienced a fairly temperate 2015, with revenue slightly up, as well as other key indicators. During the year that point of consumption taxes were introduced in some markets, such as the UK, the authorities will be pleased that this potentially negative development for countries like Malta has had a minimal impact so far.”

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