€23 million from gaming industry

The gaming industry directly contributed over €8 million (Lm3.43 million) in gaming tax and an estimated €15 million (Lm6.44 million) in VAT, Finance Minister Tonio Fenech revelled yesterday.

These figures do not include corporate taxes and other contributions toward the national Gross Domestic Product.

The minister said that the Government's goal to turn Malta into a centre of excellence in the regulation of remote gambling could soon be achieved, and it now wanted to make the island the European hub for remote gaming.

"This means that we want to convince operators who chose Malta as their licensing jurisdiction to choose Malta as their base of operations," he said.

Speaking during the official opening of the enlarged Ta' Xbiex premises of Betsson, one of Europe's leading Internet gaming companies, Mr Fenech said that since regulations for remote gaming were published four years ago, more than 300 applications for a licence were received by the Lotteries and Gaming Authority. He added that 120 licences had been granted and another 90 were currently undergoing certification.

The minister said the industry today employed more than 1,500 people, and its workforce was expected to reach the 2,000 mark this year.

He said the success of launching Malta as a hub for Internet gaming was based on the Government's commitment to the EU's principle of free movement, to have a legislature that took the needs of this industry into consideration, and to offer excellent Internet infrastructure.

Betsson, which has been operating in the gaming industry since the early 1960s, has had its operational head office in Malta since 2006.

The local branch has grown from a company employing 19 employees to 101 workers and representing more than 15 European countries. Betsson Group chief executive Pontus Lindwall expressed hope that the company would continue growing at a fast pace with Malta as a base for its operations.