Gambling is a game of chance, luck certainly plays a part in winning, and it helps to have Tyche the goddess of Fortūna on your side. But the rise of Malta as one of the premier Gaming territories in Europe if not the world, is not by chance, or luck, and more to do with good strategic planning and vision of successive Maltese governments.
The establishment of a gaming regulatory infrastructure to benefit the gaming sector, along with financial, legal and technical support, as well as the Mediterranean climate, helped the successive governments to make Malta into the presently favourable gaming jurisdiction that it is today. With advantageous fiscal incentives for the gaming companies like Betsson, Betfair Tipico, Unibet, Cashpoint, and LeoVegas, et al, it’s no wonder so many find Malta a good base. Law firms like GTG Advocates have also been instrumental in making it easy for these companies to set up their businesses.
What makes Malta the go-to jurisdiction for gaming companies?
CEO’s from major gaming companies site:
- Malta being the first EU country to introduce an advantageous regulatory environment allowing gaming companies to compete with monopolies around Europe
- continued and sustained the growth of the gaming sector over the last 10 years
- the innovative licensing structures for gaming companies
- the tax rebate system
- the combination of Mediterranean weather and tourism, creating a great environment for growth
Malta’s fair and sound regulatory environment for gaming is administered by the Malta Gaming Authority (MGA) which is being revamped to make it a more competitive, streamlined, unified and robust. MGA, to date, has issued 500 gaming licenses. There are 257 registered gaming companies in Malta, in addition to 200-plus offshore gaming companies also licensed who mainly operate overseas.
According to the MGA Annual Report for 2016, the gaming industry’s contribution to the Maltese economy in 2016 was over €1 billion, providing employment for 9,000 people.