We recently attended for the fourth consecutive year SiGMA, Summit of iGaming Malta which was held at the Malta Fairs and Convention Centre in Ta’ Qali. This year it was another success story for them, and also for us here at Fairwinds Management. Through this annual industry gathering we met with our network, clients and prospects. The show was marked by its growth, and this reflects the growth of this same industry that has been exponentially developing over the past 10 years or so.
With further plans for growth, the iGaming industry is a current key player for the economy in Malta, making the island the centre of excellence both in terms as a jurisdiction, as well as an opportunity hub for local and foreign workers to expand their knowledge and skills in Malta.
As stated by the Malta Gaming Authority (MGA), the number of licensees operating under the Maltese gaming legislation continues to increase consistently year after year. This sector in fact contributes approximately €1.2 billion to the Maltese economy, which is around 12 percent of our local GDP, employing around 9000 people.
Malta’s iGaming jurisdiction which is backed up with a superb IT infrastructure has attracted many opportunities for our island. Thanks to the pro-business approach that the government is embracing, a good standard of living, and a motivated workforce, Malta makes an ideal destination for igaming setups. The authorities always ensure to re-visit regulations and add in new schemes to sustain this rapid growth of this industry and continue creating the right environment for operators, and in fact other jurisdictions are always trying to catch up with our own local approach.
Going a little deeper into the licensing process, all operators must possess a valid license of the relevant class as set out in the First Schedule of the Remote Gaming Regulations. All setups, which need to be registered a Malta company, must satisfy relevant criteria to obtain a gaming license. Our team here at Fairwinds Management are able to assist you throughout the application process to start operating your iGaming and betting business. We are also able to help you establish an optimal company structure so that you may operate profitably whilst availing of the fiscal incentives which are offered to iGaming operators in Malta.