Revenue from the iGaming sector was expected to increase by 22 per cent this year to €19 million as Malta continued to position itself as the ideal location for the business, Finance Minister Tonio Fenech said yesterday. Mr Fenech said the intake in 2008 reached €15.6 million, an increase of 35 per cent over the previous year. The industry to date employs more than 2,500.

Addressing a conference on the remote gaming industry in Malta, he said the country's success in the field was mainly attributed to its ongoing effort in maintaining its reputation as a high quality and serious jurisdiction.

He said the regulations in place in Malta were "far superior" to any other jurisdiction in terms of strict licensing procedures, strong monitoring controls and player protection mechanism.

The government's objectives to regulate remote gaming operators were not simply to generate direct revenues from taxation, he said, but also to attract foreign direct investment and generate job opportunities and high-value careers.

Over the past five years, the Lotteries and Gaming Authority processed over 500 applications for remote gaming licences.