MALTA REAPS THE BENEFITS OF ONLINE GAMBLING
30 October 2009
35 percent increase in tax revenues last year
The finance minister for Malta, Tonio Fenech, recently
revealed some interesting financial statistics on his
nation's tax benefit as an Internet gambling regulator
and host.
Addressing an online gambling seminar
on the Mediterranean island, Fenech said that over a
five year period, the island government's regulator -
the Lotteries and Gaming Authority - had processed over
500 applications for remote gaming licenses. The
industry employs over 2 500 people on the island and
generated Euro 15.6 million in tax revenue last year, a
35 percent increase over the previous year.
“The
government considers this as an increase in economic
activity that generates a multiplier effect in the
economy," the minister said. "The government has
invested thoroughly in this field, nurturing and
moulding its growth in the past 15 years. This has been
the main driving force for Malta’s success in remote
gaming.”
Online Casino News Courtesy of
Infopowa
More news here.
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