The gaming industry in Malta has continued to make a significant contribution to the country’s economy, reaching a stake of 12.2%. According to the Maltese Gaming Authority (MGA), the gaming industry experienced a growth of 1.1% in the first half of 2023 compared to the same period in 2022. The MGA approved licenses for 335 online and land-based companies, highlighting the industry’s stability and its ongoing impact on Malta’s economy.
During this period, the MGA collected EUR 41.2 million in license fees and compliance levies, demonstrating the industry’s financial resilience. Additionally, the industry’s Gross Value Added (GVA) increased from EUR 801.8 million in the first half of 2022 to EUR 810.7 million in the first half of 2023, showing a growth of 1.1% year-over-year.
The growth of the gaming industry was further supported by a 26% increase in visits to local casinos in the first half of 2023. As a result, the gaming sector directly contributed around 9.5% to the country’s economy and is expected to continue growing in the coming years.
In 2024, a majority of online gaming operators expect further revenue growth and increased employment opportunities. However, they also anticipate higher operating costs and the need to adapt to evolving regulatory actions.
The industry is committed to promoting transparency and responsible gaming, as well as integrating environmental, social, and governance (ESG) principles for long-term profitability. The use of emerging technologies, such as digital receivables and tokens, is also becoming more common in transactions within the gaming sector.
Overall, Malta’s gaming industry expects positive market trends in the future and continues to adjust to the evolving regulatory framework and emerging market trends. The industry’s stability and growth continue to drive the Maltese economy.
Source: “MGA Interim Report 2023: Malta’s gaming industry maintains strong economic contribution’’. SiGMA. December 2023.
The original article can be found at Casino News Daily.