Malta to introduce iGaming legislation

malta

Credits: mga.org.mt

The Minister of Competitiveness and Digital, Maritime and Services Economy from Malta said that they’re planning to introduce a new iGaming legislation.

Malta.- Manuel Mallia, Minister of Competitiveness and Digital, Maritime and Services Economy, said to the Malta Independent that the Ministry is planning to introduce a new legislation for the online gaming sector.

During the interview the official said that Malta is a pioneer when it comes to promulgate regulations for the industry and allow investors to set up their businesses in the country. Moreover, Mallia said that there’s still room for the gaming sector to grow even if it looked like it reached it’s peak with more than US$1.28 billion contributed to the local economy. “The gaming sector certainly has room to grow, especially with the shift to skill and fantasy sport-based games. The Ministry decided to issue a legal notice to cover these new types of games and we have had a significant number of applications. An American company based in Boston has recently launched their European headquarters here, which is a very good indication of growth,” he said.

The Minister also discussed the current situation of Gibraltar and the possibility of attracting operators based in that territory if the post-Brexit resolution forces a break up between the UK and Gibraltar. “The Malta Gaming Authority and Gaming Malta Foundation have definitely been looking into this in a subtle, non-aggressive manner. Gibraltar holds about 50 large gaming companies and hopefully we may be able to attract some big names to come over to Malta.”

Mallia also said that whilst they’re working towards an improved version of the Maltese gaming industry, it’s important that they encourage young people to move away from traditional occupations such as lawyers or architects and begin looking at professions in the iGaming and financial service industries which reflect the modern digital era.