During this year's iGaming Summit, Dr. José Herrera in his address stated that the iGaming industry is a major contributor to the Maltese economy and that two thirds of the Maltese economy is accounted for by remote gaming. Furthermore, he stated that Malta has a competitive advantage due to its favourable regulation and gaming taxation schemes, which continue to attract iGaming companies towards the island.
Throughout the last ten years, Malta managed to establish itself as a leader and remain at the forefront of the industry, particularly through being the first European country to identify the market eleven years ago and regulate online gaming through the Malta Gaming Authority (MGA) and become the industry's jurisdiction of choice. Dr. Herrera also stated that Malta's online gaming regulatory regime is based on fair, responsible, safe and secure gaming services.
This year's iGaming Summit consisted mainly of different stakeholders from within the industry who participated in the exhibition and was larger than last year – a positive sign for the Maltese iGaming industry, as it will benefit from more networking and employment opportunities. In relation to this, De. Herrera stated that the mission of the Maltese government is that of supporting the industry and facilitating its growth in a responsible manner. In fact, the MGA is proposing a revised regulatory framework that will consolidate governance within the iGaming sector.
iGaming in Malta presently leaves more than €50 million in direct tax revenues annually in the country's coffers, without even taking into consideration the heavy multiplier effect that other sectors, businesses and the general local economy benefit from as well as the thousands of people employed within the industry locally.
In his address, Dr. Herrera also made reference to the Gaming Academy, which will help tackle the workforce issue ans help address the skills gap issue currently facing the Maltese labour market.
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