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Malta: gambling groups bet on the island

Malta: gambling groups bet on the island

The Maltese gaming regulator Malta Gaming Authority (MGA) presented its 2020 annual report on Monday. It shows that the island nation continues to be attractive to the gambling industry.

The MGA said the number of licensed gaming companies (land-based and online) had steadily increased from 2018 (286 companies) through 2019 (294) to 2020 (323). Overall, the industry's gross value added was 924 million euros in the last fiscal year, accounting for about 8% of the total economy, he said.

With the influx of gaming companies, the number of employees in Malta has also changed. Despite the Corona pandemic, the number of employees in the gambling industry grew from 7,417 to 8,292 compared to the previous year, he said. More than 91% of workers were employed in the online gambling sector, he said.

Taking into account the influence of the gambling industry on other sectors, such as real estate and finance, the contribution to the overall economy had been even higher, amounting to about 10.2%.

One reason for large gambling groups to locate in Malta is favorable tax conditions and licensing costs, among others https://luckylife.in/pure-win-casino-review/.

MGA investigates illegal betting operations

In its annual report, the MGA not only provides information on the state of the gambling industry but also on regulatory activities during the period under investigation.

Dr. Carl Brincat praised his agency's work in 2020. Brincat stated:

The year 2020 will undoubtedly be remembered for the challenges we faced with the pandemic, and I am proud of the agency staff who worked tirelessly to ensure that we continued to perform the functions we were required to perform by law.

The MGA's responsibilities this past year also included working with other investigative agencies. According to the gambling regulator, in 2020 it participated in a total of 20 global investigations related to the manipulation of sports competitions and violations of sports regulations.

Law enforcement agencies, sports federations, integrity bodies, and other regulators had submitted a total of 168 requests for information. In addition, another 288 suspicious betting reports were received from licensees and other concerned parties, he said. As recently as 2019 (August to December), only 38 suspicious cases had been registered by the MGA's newly established Sports Integrity Unit.

For the coming year, the authority announced it would further strengthen its commitment to regulating the sector. It wants to guarantee that the industry remains fair, transparent, and protected against crime and corruption.