Remote Gaming set to remain a focal point for Malta’s Economy.
Recently reported, the Lotteries & Gaming Authority (LGA) registered a €49.9 million surplus for the year 2013, a clear indication that gaming has remained stable amidst fears that operators would not be requiring their Maltese remote gaming licences anymore. Contrary to that most European countries have been unable to setup their own remote gaming legislation, and other jurisdictions that have set up their own legislation, have either not had much success in the first place, or lost a substantial number of operators over a short period of time, as it became clear to operators that retaining such licences was unsustainable.
Players too value the Maltese licence, as it stable and has been long established now. The regulator is known and is approachable. Furthermore, players have the right, in extreme cases, where they feel that their claims have not been appropriately handled by an operator, to contact the regulator directly.
The favorable financial results obtained, as shown in the authority’s audited financial statements, as well as the general requests, that are continuously received, for the setting up of new operations or extensions of current operations, are all positive indications that the industry is here to stay and flourish.
The LGA continues to develop and enhance its product and as Mr. Joseph Cuschieri, executive chairman, himself stated “The authority is undergoing a major restructuring, investment and capacity building programme in order to strengthen the operational structure and define a new, future-proof strategy for the authority and for the gaming industry itself. This will have the benefit of driving growth for the industry and reposition Malta as the top gaming jurisdiction globally.”