Reading Time: 4 minutes
The economy of mga received 1.56bn from gaming in 2019, which represents a 9.6% year-on-year growth according to data from the 2019 report of the Malta Gaming Authority AKA the MGA.
According to the report, theres been an ongoing enforcement drive by the MGA, during which it has succeeded in cancelling 14 casino licenses in 2019 alone. Theres also been a 3.9% increase in the number of casino firms and sites in operation on which you can do things like play online blackjack and crowd favourite slots on taking the total number to 294, which is still below what it was in 2017.
A look at the 1.56bn additional profit and the total value of the goods/services that the casino industry produces, minus the total consumed value, placed the gaming sector at the third position in the list of the private sectors that contributed highest to the economy of Malta. It stands just behind the retail, food, and accommodation industry at number one and professional services at number two.
Talking about this, the MGA also proposed that gaming also helps in the generation of added value through other ancillary and affiliate services to other main sectors like the real estate, distributive trades, catering services and hospitality, ICT activities, financial sector and professional services sector.
In 2019, the gaming industry provided up to 7,417 jobs, which is a 9.2% year-on-year increase. Out of the total number of jobs mentioned above, the online gaming industry had 6,593. Now, the MGA did not announce the total gaming revenue for the industry, but it went ahead to announce the revenues gained by different types of games.
The first set is made up of the player versus house casino games, and this accounts for more than 56% of the total revenue, against the 55.4% of the previous year. In this category, the games that took the centre stage were slots, and they accounted for more than 74.4% of the revenue made by this category. The table games stood at a distant 21.5%.
The second category is made up of sports betting, and this raked in 36.3% of the total revenue, signalling a drop in the 39.0% that it generated the year before. The most prevalent game in this sector is the game of football, which brought in 76.4% of the total revenue, while the contribution by tennis stood at 7.7%, and basketball contributed 5.9%.
For the third category, we have player versus player, games and this raked in 7.7% of the total revenue. Poker contributed 81.9% to this, and betting exchanges brought in 10.3%.
The body also has another category of games that it gives licenses for, and this type 4 license is given for controlled skill games. But because the revenue that came through this was very minimal in the scheme of things, it wasnt added.
There was also a 12.7% growth in the number of active player profiles in online casinos operating with a license from Malta, with the number standing at 20.4m at the moment.
14 casinos were cancelled while the MGA was enforcing its regulations in 2019. This is an increase from the 8 that were cancelled in 2018 and 3 that received the same treatment in 2017. Also, the regulatory body sent 11 licensed casinos into suspension, the same number they did in 2018.
They placed great emphasis on ensuring that the increase in enforcement and compliance they are embarking on reflects its structure and governance. According to the chief executive of the MGA, Heathcliff Faruggia, they committed more money to compliance, to ensure that the risk-based approach to enforcement and regulation is implemented.
There was an increase in the total number of companies operating with licenses in Malta as well, going from 283 in 2018 to 294 in 2019. But this is still not up to what was the case in 2017 when they had 296 companies. There was also an increase in the total number of active licenses from 286 to 298.
They issued new licenses to 53 out of 89 applicants. This is below the 93 that were handed licenses in 2018, and the explanation given by MGA about this is that it was because of the alterations they made in their licensing system from August 2018. The new provision holds that there wouldnt be any need for new licenses for operators who already possess the critical gaming supply or gaming service license when they want to start offering products that are captured by a different class of license.
The MGA also delved into ad hoc responsible gambling audits in 2019.
For Faruggia, through these audits, the firm has been able to ensure that the lawful safeguards that each license enforces are effective and that they keep relaying information to the authority on how best to protect the vulnerable in the sector.
In 2019, the regulator gained 81.7m, which is an 8.6% increase. Most of the funds were from levies and compliance contributions, and it had an 8.1% increase. Also, 8.1m was made in license fees, which is a 16.1% growth, while fees for license application brought in 477,605 revenue, which is a 16.6% growth. The other sources capped this up with 817,276, which is a 14.9% drop.
When it comes to expenses, the MGA spent 13.2m with staff costs totalling 7.2m, while depreciation and amortization, plus general and administrative costs stood at 1.2m.
In order to be ready for the future, the MGA did a survey of the licenses in April 2020, to study the impact of the current health crisis on the gaming sector. From a poll conducted for 151 B2C operators, there would be a drop of 12% in gaming revenue in 2020, and this is because of the drop in sports betting revenue. The revenue is predicted to experience a 40% decline. Also, 64 B2Bs were surveyed, and they also pointed to an expected 20% decline in revenue.
According to Faruggia, there has been an increased emphasis on the need to protect vulnerable players, especially now that our daily lives and finances have been heavily disrupted, and many are in the dark about their financial future. But then, the industry is also experiencing huge pressure through operational costs, and they have to consider this in line with the new reality.
The body is making efforts to ensure that operators with licenses adhere to the guidelines, while those without licenses, who are out there to make illegal money and put the public in danger are stopped.
Related
See more here:
NetEnt brings us back to the hot 80s Miami action in Hotline 2 - European Gaming Industry News
- Lyon County Nonprofits Share Over $24000 From Community Foundation - KIWARadio.com [Last Updated On: June 5th, 2020] [Originally Added On: June 5th, 2020]
- Ian Sims: Affiliates will have realised they need to diversify - Casino Beats [Last Updated On: June 5th, 2020] [Originally Added On: June 5th, 2020]
- How to Invest in the Thriving Online Casino Sector - EconoTimes [Last Updated On: June 5th, 2020] [Originally Added On: June 5th, 2020]
- Pay-by-phone online casino funding the latest target of UK gambling crackdown - CalvinAyre.com [Last Updated On: June 5th, 2020] [Originally Added On: June 5th, 2020]
- How has COVID-19 affected the UK iGaming industry? - AffiliateINSIDER [Last Updated On: June 5th, 2020] [Originally Added On: June 5th, 2020]
- UK Casinos Set to Reopen on July 4 - European Gaming Industry News [Last Updated On: June 13th, 2020] [Originally Added On: June 13th, 2020]
- Genting Casino to Permanently Close Three UK Properties - European Gaming Industry News [Last Updated On: June 13th, 2020] [Originally Added On: June 13th, 2020]
- LAS VEGAS RE-LAUNCH OF THE STRIP, an important discussion at Sports Betting & Casino Summit North America 2020 - European Gaming Industry News [Last Updated On: June 19th, 2020] [Originally Added On: June 19th, 2020]
- The Long Con: Erik Bergman and the importance of charity - CalvinAyre.com [Last Updated On: June 19th, 2020] [Originally Added On: June 19th, 2020]
- New Welcome Bonus and Market at the Casino Kingdom - Key To Casinos [Last Updated On: July 11th, 2020] [Originally Added On: July 11th, 2020]
- Inside The World's MOST Instagrammed Casino Resorts European Gaming Industry News - European Gaming Industry News [Last Updated On: July 13th, 2020] [Originally Added On: July 13th, 2020]
- EveryMatrix Named Associate Member in European Lotteries Association - Latest Casino Bonuses [Last Updated On: July 13th, 2020] [Originally Added On: July 13th, 2020]
- Pat McAfee Inc. and FanDuel Group Expand Partnership, Announce First-Ever Official Partnership Between Legal Sportsbook and Sports Media Personality -... [Last Updated On: July 13th, 2020] [Originally Added On: July 13th, 2020]
- FanDuel and Pat McAfee expand their partnership - Yogonet International [Last Updated On: July 13th, 2020] [Originally Added On: July 13th, 2020]
- EveryMatrix gains Associate Member status in the European Lotteries Association - CalvinAyre.com [Last Updated On: July 14th, 2020] [Originally Added On: July 14th, 2020]
- Affiliate licensing: Time to face up to a regulated reality - iGaming Business [Last Updated On: July 14th, 2020] [Originally Added On: July 14th, 2020]
- Differentiation key as virtual sports steps into pandemic spotlight - SBC Americas [Last Updated On: July 16th, 2020] [Originally Added On: July 16th, 2020]
- Online Casino Affiliate Program - SuperiorShare Affiliate ... [Last Updated On: July 16th, 2020] [Originally Added On: July 16th, 2020]
- Cellxpert expands its iGaming business with onboarding Ellmount Gaming LTD - European Gaming Industry News [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- Regal Appoints Rod Runnalls as Head of Business and Product Intelligence - European Gaming Industry News [Last Updated On: July 21st, 2020] [Originally Added On: July 21st, 2020]
- Newcastle United and Fun88 Agree New Partnership European Gaming Industry News - European Gaming Industry News [Last Updated On: July 21st, 2020] [Originally Added On: July 21st, 2020]
- OneTouch expands European operator reach with Revolver Gaming deal - European Gaming Industry News [Last Updated On: July 21st, 2020] [Originally Added On: July 21st, 2020]
- Relax Gaming teams up with brand-new operator Casino Days - European Gaming Industry News [Last Updated On: July 21st, 2020] [Originally Added On: July 21st, 2020]
- Divine Fortune hands lucky Casino Gods player a massive win - European Gaming Industry News [Last Updated On: July 21st, 2020] [Originally Added On: July 21st, 2020]
- LeGrand Casino in North Macedonia Teams up with Gaming Innovation Group - Latest Casino Bonuses [Last Updated On: July 21st, 2020] [Originally Added On: July 21st, 2020]
- Gaming Contributed 1.56bn to the Economy of Malta - European Gaming Industry News [Last Updated On: July 21st, 2020] [Originally Added On: July 21st, 2020]
- BestBitcoinCasino.com gives casinos a voice with new manage functions - Casino Beats [Last Updated On: July 21st, 2020] [Originally Added On: July 21st, 2020]
- Marina Bay Sands said to end lawsuit with $9.1 million payment to former patron - The Straits Times [Last Updated On: July 21st, 2020] [Originally Added On: July 21st, 2020]
- Catena Media set to achieve best quarter ever in Q2 despite pandemic impact - Gambling Insider - In-depth Analysis for the Gaming Industry [Last Updated On: July 21st, 2020] [Originally Added On: July 21st, 2020]
- Revenue Giants Online Casinos Removed From Probation and Return to the Light Side - Latest Casino Bonuses [Last Updated On: July 25th, 2020] [Originally Added On: July 25th, 2020]
- A guide to the Malta online gambling license - Yogonet International [Last Updated On: July 25th, 2020] [Originally Added On: July 25th, 2020]
- 5 Best Waterproof Phone Cases for iPhones and Androids in 2020 - Cond Nast Traveler [Last Updated On: July 28th, 2020] [Originally Added On: July 28th, 2020]
- NetEnt secures US deal with Tipico - European Gaming Industry News [Last Updated On: July 28th, 2020] [Originally Added On: July 28th, 2020]
- 5 Great ways to make money online with minimum investment - TechGenyz [Last Updated On: July 28th, 2020] [Originally Added On: July 28th, 2020]
- Sapar Karyagdyyev: Avoiding the pitfalls of a white-label solution - SBC News [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Draft Law 2285-d Adopted. Join the First after the Legalization Gambling Exhibition Ukrainian Gaming Week 2020 - Interfax-Ukraine [Last Updated On: July 31st, 2020] [Originally Added On: July 31st, 2020]
- Hot iGaming Investment Opportunities - NuWireInvestor - NuWire Investor [Last Updated On: July 31st, 2020] [Originally Added On: July 31st, 2020]
- Germany Grapples with How to Handle iGaming Ahead of New State Treaty on Gambling - Pokerfuse [Last Updated On: August 4th, 2020] [Originally Added On: August 4th, 2020]
- Casino Trip May Have Caused Major League Baseball Team's COVID-19 Outbreak - CardPlayer.com [Last Updated On: August 4th, 2020] [Originally Added On: August 4th, 2020]
- Cotler VIP Tours, Inc. Surviving COVID-19 With Pivot to Online Sports and Gambling Media Brand 'The Props Network' - PRNewswire [Last Updated On: August 7th, 2020] [Originally Added On: August 7th, 2020]
- The Props Network Partners With The Tour Junkies - PRNewswire [Last Updated On: August 7th, 2020] [Originally Added On: August 7th, 2020]
- Earn Real Money with the 888 Affiliate Programs ... [Last Updated On: August 10th, 2020] [Originally Added On: August 10th, 2020]
- Gambling Affiliates - The Truth About Affiliate Earnings [Last Updated On: August 10th, 2020] [Originally Added On: August 10th, 2020]
- Best Casino Affiliate Programs - High up to 45% Revenue Share [Last Updated On: August 10th, 2020] [Originally Added On: August 10th, 2020]
- 10 Best Casino Affiliate Programs of 2020 - Authority Hacker [Last Updated On: August 10th, 2020] [Originally Added On: August 10th, 2020]
- Top 10 Casino Affiliate Programs for 2020 | Big Money Makers [Last Updated On: August 10th, 2020] [Originally Added On: August 10th, 2020]
- Vibra Improves Marketing Campaign With First Look Partnership - Inkedin [Last Updated On: August 10th, 2020] [Originally Added On: August 10th, 2020]
- Bally's Las Vegas Hotel & Casino is one of the cheapest offerings on the Strip with prices regularly under $50 a full renovation means there's no... [Last Updated On: August 10th, 2020] [Originally Added On: August 10th, 2020]
- Giannis Koutivas on the future of iGaming and affiliates - AffiliateINSIDER [Last Updated On: August 10th, 2020] [Originally Added On: August 10th, 2020]
- Freehold Raceway reopens with new sports book on the way - Asbury Park Press [Last Updated On: August 31st, 2020] [Originally Added On: August 31st, 2020]
- SBC Summit Barcelona - Digital's Sports Betting Zone to deliver insights, innovations, connections - Yogonet International [Last Updated On: August 31st, 2020] [Originally Added On: August 31st, 2020]
- MegaPartners - Company Connections - Gambling Insider - In-depth Analysis for the Gaming Industry [Last Updated On: August 31st, 2020] [Originally Added On: August 31st, 2020]
- Yes, a business can be honest - Times of Malta [Last Updated On: August 31st, 2020] [Originally Added On: August 31st, 2020]
- Tribal casinos weigh dueling risks of COVID-19, economic ruin - Visalia Times-Delta and Tulare Advance-Register [Last Updated On: August 31st, 2020] [Originally Added On: August 31st, 2020]
- Game Revenue Casinos Add Red Tiger Games and Tether - Key To Casinos [Last Updated On: September 4th, 2020] [Originally Added On: September 4th, 2020]
- SlotsCalendar integrates 1account age verification tech - Casino Beats [Last Updated On: September 4th, 2020] [Originally Added On: September 4th, 2020]
- 7StarsPartners: Streamers are one of the best ways to ensure entertainment - Casino Beats [Last Updated On: September 4th, 2020] [Originally Added On: September 4th, 2020]
- Visit San Manuel Stadium home of the Inland Empire 66ers - MLB.com [Last Updated On: November 13th, 2021] [Originally Added On: November 13th, 2021]
- Leading UK sportsbook and casino operator The Pools improves affiliate compliance with suite of innovative tools - Telemedia Online [Last Updated On: November 13th, 2021] [Originally Added On: November 13th, 2021]
- Coral, Rank Digital Blasted for Irresponsible Gambling Ads in the UK - Casino.Org News [Last Updated On: August 5th, 2022] [Originally Added On: August 5th, 2022]
- Miles Nielsen and the Rusted Hearts Kick Off '22-23 IceHogs Season - Rockford IceHogs [Last Updated On: September 24th, 2022] [Originally Added On: September 24th, 2022]
- WHAT SEPARATES UK ONLINE CASINOS FROM OTHER IGAMING SITES? - London On The Inside [Last Updated On: September 24th, 2022] [Originally Added On: September 24th, 2022]