The Maltese gaming industry continues to positively impact the country’s economy through its role as a key driver of economic growth and innovation. Malta’s gaming industry contributed €810.7 million, or approximately 9.5%, to the country’s gross value added (GVA) during the first half of 2023. During the same period, the industry’s overall contribution to the national economy was 12.2%. On its critical impact on the economic outlook of the Maltese economy.
Reaching 12.2% of Malta’s economic share
This argument is further supported by the fact that the growth of the gaming industry in the first half of 2023 reached approx 1.1% higher level compared to the same period in 2022. By 30 June 2023, the Malta Gaming Authority (MGA) had approved licenses for 335 online and landline companies After the 2022 number of 357 companies licensed by MGS to be confirmed Industry stability and continued contribution to Malta’s economy.
In the same period in 2023, the regulatory body gathered 41.2 million euros In licensing fees and compliance fees. When compared to the €39.8 million raised by MGA in the first half of 2022, it is clear that the industry has maintained momentum and maintained financial resilience. The industry’s gross added value also rose from 801.8 million euros in the first half of 2022 to 810.7 million euros In the first half of 2023 for display 1.1% growth achieved by the industry on an annual basis.
We expect further growth in 2024
Growth was driven Increase visits by 26% To local casinos in the first half of 2023. Hence the gaming sector Contributed directly about 9.5% The country’s economy is expected to continue to grow at a slightly slower pace. In 2024, 74% of online gaming operators expect More revenue growth While 60% of them expect this Increase employment. On the emergency side, operators generally expect High operating costs and disparate organizational procedures that require rapid adaptation.
Commitment to innovation and social responsibility
The industry promotes transparency and responsible gaming and considers integration Environmental, Social and Governance (ESG) Basic principles of long-term profitability. Leveraging emerging technologies also enables the gaming sector to maintain customer interest Innovative integrations From traditional games and others. For example, innovative products such as digital receivables and tokens are increasingly included in transactions and supported by the regulatory body.
As a result, the Malta gaming industry anticipates positive market trends in the coming period and continues to adapt the established gaming landscape to align with the evolving regulatory framework and emerging market trends. Overall, the sector maintains stability and continues to drive the Maltese economy.
source: “MGA Interim Report 2023: Malta’s gaming industry maintains strong economic contribution”. sigma. December 2023.