The Lotteries and Gaming Authority (LGA) said today that  the number of licences issued in the first half of this year went up by 25% to 401 when compared to 321 in 2013.

The number of registered companies went up by 17% to 258, whilst total revenue went up by 1.3%.

At the same time licence processing time has been reduced by 50%, from an average of five months to an average of 2.5 months.

“I am satisfied with what the LGA has achieved so far both in terms of financial and regulatory performance,” said Joseph Cuschieri, executive chairman.

“Malta is a major player in the global remote gaming industry and our solid reputation was instrumental for our growth trajectory. Having said this, what got us here won’t take us there hence the importance of innovation and reform in order to maintain a competitive edge and stay ahead of other jurisdictions. This, coupled with the support of a business friendly government which strongly believes in the gaming industry is crucial in our efforts to future proof this industry for the next decade.”

Mr Cuschieri said a regulatory overhaul was under way and  a new legal framework would be launched towards the end of next year.

Parliamentary Secretary Jose' Herrera said Malta needed to be more competitive and have a stronger workforce.

A survey carried out in 2013 showed that 77% of foreign companies do not find enough Maltese workers with the necessary skills to work in this sector.

Dr Herrera explained how the launch of the Gaming Academy in the first quarter of next year is set to be one of the steps taken by the authority to increase employment rates in Malta in this sector.