The number of companies registering with the Lotteries and Gaming Authority increased by 17 per cent in the first six months of 2014, when compared to last year.

Between January and June, the number of issued licences increased by 25 per cent to 401, compared to 321 during the same period in 2013.

Registered companies also went up by 17 per cent to 258 compared to 220 while total revenue went up by 1.3 per cent compared to the same period last year.

The processing time was reduced by 50 per cent to an average of around 2.5 months from five, Joseph Cuschieri, the authority’s executive chairman, said yesterday in a press conference.

“I am satisfied with what the authority has achieved so far both in terms of financial and regulatory performance. Malta is a major player in the global remote gaming industry and our solid reputation was instrumental for our growth trajectory,” Mr Cuschieri said.

He also highlighted the importance of innovation and reform to maintain a competitive edge and stay ahead of other jurisdictions. This, together with the support of a business-friendly government that strongly believed in the gaming industry, is crucial, Mr Cuschieri added.

Economic Growth Parliamentary Secretary José Herrera spoke about the importance of having a skilled labour force, stressing the need for more people to widen their technical knowledge and be employed within the gaming industry.

A 2013 survey shows that 77 per cent of foreign companies do not find enough Maltese workers that have the necessary skills to work in this sector, Dr Herrera said.