Maltese Online Gambling Revenues Growing Each Year

Published Monday, June 27, 2016 - Online-Casinos.com
Maltese Online Gambling Revenues Growing Each Year

Malta is a Southern European island country consisting of an archipelago in the Mediterranean Sea. It lies 80 km just south of Italy and is one of the world's smallest and most densely populated countries in the world.  Besides tourism and manufacturing online gambling brings in much needed revenue to run the country of 450,000 people. In 2008, it became part of the Eurozone after only four years as a member in the European Union.

The Malta Gaming Authority has just released its report on the state of finances in Malta regarding gambling and its growth. The year-on-year increase in revenue for the 12 months to December 31, 2015 has the executive chairman of the Malta Gaming Authority, Joseph Cuschieri describing the year as “intensive and rewarding” for the country. Revenue for the national regulator increased by 4.3%  which came in at €60.9 million, up over the €58.4 million generated in the previous 12-month time frame.

Malta’s land-based industry saw revenue expand by 3% year-on-year to €78.1 million, with the amounts played in this sector standing at €333.1 million and total winnings coming in at €255 million. The sector made a direct contribution of 8.2% to Malta's Gross Value Added in the economy.

“2015 has been a very intensive and rewarding year on many fronts for the MGA,” Cuschieri commented, “The results strengthen our determination to continue with our plans to enhance our regulatory performance.

“The aim of the three-year strategy launched in 2014 is 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.

"An increased focus on quality, innovation, fairness, consumer protection, proportionality, evidence-based regulation and consistency run through the building blocks of the Authority, its processes and the policy initiatives being taken up, are an integral part of the underlying strategy.”

 

 

 

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