Earlier this month, the Malta Gaming Authority (MGA) announced it had received several requests by foreign companies to base themselves in Malta. The exciting news was delivered by Parliamentary Secretary Silvio Schembri at ICE London, one of the biggest B2B gaming events in the world.
Yet, the Secretariat for Financial Services, Digital Economy and Innovation remains tight-lipped when it comes to any further details, including the names and details of these companies and how many - if any - people they will employ in Malta once here.
“At this stage it is still premature to give details about these companies. As soon as a gaming company submits an application, it has to undergo a rigorous licensing process in order to get an MGA Licence," said a spokesperson for Mr Schembri. "This involves due diligence checks as well as auditing of their IT infrastructure.
However, the spokesperson hinted that the businesses who applied would likely be successful in their application, given that “the absolute majority of these companies are operating in other jurisdictions.”
According to the latest figures from the MGA, 2018 was another strong year for iGaming, making up more than 12 per cent of the total value added to the economy. The MGA estimates there were around 6,850 people working in full-time equivalent jobs in the first half of last year.
Speaking at that same event in London earlier this month Mr Schembri said he isn’t surprised that more people are choosing Malta to set up their businesses describing the country “as the home of gaming excellence.”