Malta Regulator Issues Annual Report

Regulator generated 4.3 percent more revenue in 2015

The Malta Gaming Authority has released its annual report for 2015, posting a year-on-year 4.3 percent rise in generated revenue at Euro 60.9 million (FY 2014: Euro 58.4 million) as the industry continued to enjoy 'healthy' growth in both the land-based and remote gaming sectors.
Highlights of the report include:
* Contributions in gaming taxes made to government in 2015 amounted to Euro 55.8 million – up 4.9 percent year-on-year;
* The sector made a direct contribution of 8.2 percent to Malta's Gross Value Added in the economy;
* The land based gaming sector grew by 3 percent y-o-y with total gross gaming revenue reaching Euro 78.1 million. Amounts played in the land based sector reached a total of Euro 333.1 million with total winnings amounting to Euro 255 million;
* The MGA continued to focus its efforts on the overhaul of the current legislation. The new legislation will provide a 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 regulatory oversight function was strengthened through the setting up of a Supervisory Council with responsibility for the integrity, consistency and ongoing development of the Authority's regulatory performance;
* 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;
* The Authority also focused on improving the efficacy of its operations through a right-sizing initiative taht included the implementation of a robust ICT infrastructure and advanced information systems designed to improve processes, enhance the quality of the MGA interface with licensees, improve information security and the optimise the use of resources;
* 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 to the Malta Gaming Authority. The Authority also relocated to new offices at Smart City Malta;
MGA's Executive Chairman, Joseph Cuschieri reported:
"2015 has been a very intensive and rewarding year on many fronts for the MGA. The results strengthen our determination 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."
The full report is accessible here: http://www.mga.org.mt/wp-content/uploads/MGA-Annual-Report-2015-Spreads.pdf

Online Casino News Courtesy of Infopowa