MGA Publishes 2017 Interim Performance Report
The Malta Gaming Authority (MGA) has published its interim performance report for the period January to June 2017. The report reviews the performance of the gaming industry under the governance of MGA in terms of economic value added, employment, number of licensed operators and tax revenue together with developments in demand trends and in the supply capabilities of operators.
The report includes an introductory section highlighting the key performance indicators for the first half of 2017 as well as a medium-term outlook into the future followed by a detailed report explaining key statistics for land-based and remote gaming sectors. Some key indicators include:
- The gaming industry contributed almost 12% of the total value added of the Maltese economy during the first half of 2017, up from 11.8% during the same period last year. With over €556 million in terms of gross value added in the first half of 2017 (representing an increase of over 10% when compared to the corresponding period in 2016), the gaming industry consolidated its position as the third-largest productive sector in the economy.
- Reflecting continued growth in employment, the gaming industry was directly generating in excess of 6,400 full-time equivalent jobs by June 2017. A survey carried out by the MGA towards the end of 2016 indicates that when taking into account indirect employment, the total employment in the gaming industry was estimated to be around 9,000 full-time equivalent (FTE) jobs.
- Gaming tax revenue reached €29 million in the first half of 2017, representing 5.5% of the total indirect tax intake of the Maltese Government during the period.
- The number of companies licensed in the Maltese jurisdiction stood at 282 in June 2017, growing by 6% from December 2016, reflecting continued investment in the sector.
- Land-based gaming visits increased by 13.8% during the first half of 2017, spurred by growth in both land-based casinos and gaming parlours.
- MGA proceeded with the overhaul of the regulatory framework which will streamline, consolidate and future-proof all gaming sectors under one legislative umbrella. The new framework shall also strengthen the MGA enforcement powers and consumer protection standards.
- In exploring the practical challenges to the implementation of the 4th Anti Money Laundering Directive to the gaming industry, MGA has performed an extensive industry outreach and collaborated closely with the Financial Intelligence Analysis Unit (FIAU).
- Early in 2017, MGA published regulations for the online skill games sector thereby creating a licensing and regulatory regime for so-called ‘controlled skill games’.
- MGA continued to engage in discussions at international fora to safeguard the interests of the gaming industry in Malta.
- The gaming industry in Malta is expected to continue growing robustly in throughout the rest of 2017 and in 2018.