The gaming industry in Malta represented 8% of the country’s Gross Value Added, according to a new report released by the MGA.

The Malta Gaming Authority said the sector generated €573 million of Malta’s total GVA during the period January-June of last year.

Despite the effects of geopolitical tensions and the Covid-19 pandemic on the economy in general, the gaming sector’s value added progressed at a “steady pace.”

“When the indirect effects are included, the contribution of the industry to the economy value added would amount to just over 10%,” MGA said.

Industry grew by 12%

The gaming industry is estimated to have registered a growth in value added equal to 12.2% during the first half of 2022, when compared to the same period in 2021.

The report also says that, as of the end of June 2022, MGA licensed companies employed 10,861 persons. 93% of these were engaged in the online sector.

The number of companies licensed by the MGA, including both online and land-based entities, stood at 357.

Gaming companies held a total of 363 gaming licences and 374 approvals to offer various types of games under the B2C licence.

Between January and June 2022, the MGA collected €39.8 million in compliance contribution fees, levies, and consumption tax.

Land-based

From a more detailed market behaviour perspective of the land-based sector, the total players’ visits across all gaming outlets between January and June 2022 increased by 41.9% when compared to the same period in 2021.

The major contributors to this increase were the casino and commercial bingo sectors, which registered increases of 142.2% and 111.2% respectively, when compared to the corresponding period in 2021.

In contrast, gaming parlours experienced a drop of 5.5% in visits over the same time period. This was affected, however, by restrictions related to the Covid-19 pandemic.

Despite the decrease in visits, gaming parlours experienced a sharp increase of 66.4% in GR per visit when compared to the first six months of 2021.

Industry emerged stronger

MGA also said that Malta’s gaming industry emerged in a stronger position after the pandemic and the Russia-Ukraine war, as well as the country’s temporary greylisting by the FATF.

“This is witnessed by the steady growth in industry activity during the first half of 2022, both in terms of value added and employment.”

“The resilience of the Maltese gaming industry during these trying times is largely attributed to its ability to remain flexible and adapt to change, while being supported by the MGA’s continued efforts to ensure that Malta remains a competitive and reputable jurisdiction of establishment.”

For more news visit: https://www.bjnjyw.com/news/