Malta has established itself as a hub for gaming companies. The sector has boomed over the last few years, setting itself as one of the top industries on the island in terms of job provision and in attracting major investment.
Latest statisticspublished by the Malta Gaming Authority indicate that, in the period between January and June 2016, the direct gross value added generated by the Malta Gaming Industry amounted to 12% of GDP. This growth rate represents an increase of 11.9% over the activity registered during the same period in 2015. The Authority explains that the main drivers behind this growth were organic growth in revenue, an expansion in service offerings by various firms, and new investments including relocation of businesses to Malta.
Employment figures show an impressive 31% growth over the corresponding period in 2015. Direct employment within the industry now accounts for 6150 full-time equivalent jobs. The majority of this growth has been registered in the Remote Gaming sector. Employment growth was mainly registered in the areas of service delivery, quality and consumer satisfaction and marketing activities.
The growth in value added of the Malta Gaming Industry also translated into higher tax revenues which amounted to €28 million during the first half of 2016. This represented 4.6% of the total indirect tax intake of the Maltese Government during the period. The report explains that the increase in tax revenue was mainly driven by increased activities of gaming parlours and of remote gaming operators which utilise a B2B service licensed by the MGA.
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