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Malta economy and online casinos

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Malta was one of the first countries in the world that recognized the potential of the online casino and iGaming industry in general. Formed in the 1990s, this industry is now worth over $50 Billion and thanks to the early recognition, this small Mediterranean county is now enjoying the benefits that come with this industry. It has a highly positive effect on the countryā€™s economy in so many different ways.

The Malta Gambling Authority was formed way back in the early 2000s and it was part of the countryā€™s strategy for the development of the iGaming industry. Unlike most countries of the time, Malta had a highly affirmative view of this industry from the early beginnings. The MGA was formed in order to issue licenses and support industry development in general. Obviously, the goal was to make this small island one of the best destinations for foreign operators. These days, around 300 global players in the industry are located in Malta.

With such a number of corporations operating in such a small country, there is no doubt that tax collection has had a significant impact on the overall economy. According to some reports, the iGaming industry has a 15% share of the countryā€™s total economic activity. Obviously, that number will continue to grow.

Benefits from iGaming arenā€™t just displayed in GDP and tax numbers. This industry has also had a big impact on other fields. For example, Malta now has several educational programs specified for the online casino bonus industry.

The reason is obvious. This is a small country and if we look at the numbers, it turns out that 60% of employees in the industry come from overseas. Only 40% belongs to the domestic share. Obviously, one of the strategies is to change that trend and to increase the share of domestic workers. So, educational institutions have increased the offer of their classes, including numerous ones that target gaps that exist in the industry at the moment.

At this point, it is estimated that there are over 6.000 employees working in this industry and if we can trust experts, operators are currently in need of 3.000 additional workers. So, we may expect further arrivals of foreign workforce.

This leads us to another aspect of the iGaming influence on Maltaā€™s overall economy. For example, with such a big number of abroad workers, itā€™s easy to conclude that demand for real estate has increased significantly. Workers prefer to rent a property, which has increased the rental prices by a notable percentage. According to some reports, the average property prices have been increased by 10% in the past several years.

Another impact of iGaming on Maltaā€™s economy is the fact that offices of operators also have a positive impact on local businesses, such as service providers, restaurants, coffee shops etc.

In the last couple of years, more and more countries are starting with a similar practice as Malta. However, we donā€™t believe that this could slow down the growth of the countryā€™s online casino industry and the overall economy. This small Mediterranean island will continue to grow, despite the growing competition. Simply, MGA is still one of the highest-reputable bodies in the business, who issues licenses to operators from all over the world. Simply, gaining these licenses is a matter of prestige, so operators who have gained them proudly advertise is, as a way to attract players from all around the world to register on their website.

Simply, the years of experience have provided MGA a kind of reputation that most newer regulatory bodies from other countries will hardly be able to reach. This body has set pretty high standards, whether itā€™s about player protection, fair gaming, operator accountability.

Founded in 2001, the Malta Gaming Authority also pays a lot of attention to the protection of youngsters and other vulnerable groups, and it is a body that ensures the integrity of games and operators, as well as that the industry is free from criminal activities.

Other than MGA, there are just a couple of more regulatory bodies in the world that can be considered as good. Those would be the UK Gambling Commission, as well as similar regulatory bodies from Gibraltar and Curacao. However, Malta still remains in the leading destination, and we have no reason to believe that things could change much in the future.

Interviews

Women in iGaming Interview: White Hat Studiosā€™ Holly Fairweather

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Women in iGaming Interview: White Hat Studiosā€™ Holly Fairweather

 

Holly Fairweather, Director of US Accounts at House of Brands provider White Hat Studios, sits down with Gaming Americas to discuss the growing influence of women in the iGaming industry, and highlights how more can be done to improve the overall gender imbalance

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Gaming Americas: Since joining the industry in 2018, have you noticed a change in how women are represented within iGaming companies, as well as general attitudes?

Holly Fairweather (HF): When I reflect on the past six years, it feels great to say I have seen a lot of positive changes in our industry and more importantly, an ever-increasing drive to address gender diversity. There is still work to do, and I am reminded of this attending our industry events, where itā€™s very evident we still lack female presence in C-level roles and on expert panels. Itā€™s also not hard to see walking around conferences the overall gender imbalance that exists. With that being said, I do feel itā€™s moving in the right direction and I am regularly inspired by women around me being promoted to senior management roles, providing great mentors and role models. Awareness of gender diversity and celebrating success is continually being pushed via various channels, and for me plays a big part in why we are seeing more women have the confidence to progress in their careers and more women enter the industry. Itā€™s also important to say, and why I think change is happening more, that the want of women to succeed and to increase female presence in our industry, is indeed backed by a strong support network of women supporting women, but also of the men in our industry.

 

Gaming Americas: How important are groups like Global Gaming Women? What kind of initiatives have they offered to help your own career development?

HF: Iā€™ll be honest, Iā€™m still learning about all that Global Gaming Women offers. Working in the US market I see GGW as a substantial network which offers reams of support from training courses, lean in circles and mentorship and networking events just to name a few. I have taken part in a few of the industry wide networking events, and really enjoyed them, connecting with some amazing people, learning more about the industry. One of my objectives this year is to participate in more events, adding value where I can whether thatā€™s within the GGW network or through other avenues.

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Gaming Americas: What more can the industry do to make it more appealing to women and ensure they are better represented within organizations?

HF: Itā€™s got to start within each individual company taking responsibility for equal representation. This is not a tick box exercise to achieve a target on a gender split % by x date but must be about promotions and roles being rewarded to the best candidate for the role, regardless of gender, ethnic background, or sexual orientation. We need to shout about the success stories of DEI within the industry, creating an inclusive work environment will attract not just more women but more candidates overall, increasing the talent pool.

There is also a piece around exposure and shining the light on the fantastic women we have leading the way. Sharing their career paths, the good, and the challenges, to provide relatable examples of success. To make women in gaming not about the stats or portray the headline as a negative but more around showcasing the women that are successful and why, helping more women relate and pursue a similar path if this is what they wish to do.

 

Gaming Americas: What advice would you give to the next generation of women that are looking to make a breakthrough in the industry?

HF: This is a good one! First and foremost, you lead your own progression. Be proactive in building your network, push yourself out of your comfort zone to attend networking events. Reach out to other women in the industry for support and mentorship. That is on you to drive.

Immerse yourself in a team with values that align with yours, a team that welcomes and promotes diversity of all types and supports and rewards on merit are key.

Build your knowledge, for me knowledge is confidence. Quickly realise it is ok not to know everything, ask the questions and find out. Be solution-oriented, supporting your superiors will get you noticed for going over and above and adding value to your team and company.

I was told ā€˜people do business with people,ā€™ which I stand by and could not be truer in the igaming industry. Always treat everyone with respect, be kind, be yourself, but donā€™t forget to back yourself! Relationship building is so key in this industry and has helped me progress to where I am today.

Lastly, take risks. And by this, I mean sometimes you must step out your comfort zone and push yourself to try something different to progress to the next stage. So far, the most pivotable moment in my career and biggest risk I have taken, and Iā€™m sure Andy Whitworth (CEO) and the White Hat Studios (WHS) team wonā€™t mind me saying, was accepting the job at WHS. A brand-new supplier to the US, no content live alongside the fact I had never worked in the US market, so of course there was an element of risk. It was, however, a calculated risk as I was joining a team of experts, senior level management I had worked for previously, in an ever-growing US market. A no brainer now when I look back.

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Gaming Americas: From a White Hat Studios perspective, what DEI initiatives does the company put in place?

HF: DEI of all types is something I believe increases the performance of a team, and is something we are extremely passionate about at WHS. As we grow and expand, maintaining a strong culture has never been more important. We recently held a WHS workshop in Prague, with one section of our day spent holistically agreeing and locking down our values as a team, ā€˜Who we are, what we stand for ā€˜and ā€˜treating everyone equallyā€™ is now embedded in our company culture as one of our five core values.

I have been lucky in the fact I have never felt that my gender has held me back in my current role and previous igaming companies. Although I understand this has not been everyoneā€™s experience, I truly believe the more we celebrate success, drive awareness, embed inclusion within our companies, and work together across DEI as a whole, we will continue to see women progress and take on careers in igaming.

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Lottery.com Inc. Relaunches Sweepstakes Operations

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Lottery.com Inc. announced the restart of its sweepstakes operations in conjunction with the WinTogether Trust, a registered 501(c)3 charitable organization. The proceeds from the sweepstakes will benefit Street Child United. The sweepstakes had a soft launch on April 3, 2024, and is available at http://donateto.win, the successor to Lottery.comā€™s WinTogether.org platform.

Street Child United is a global organization dedicated to improving the lives of street-connected children. The organization focuses on four key pillars: Ensuring every child has birth registration which provides access to healthcare and education; protecting children against abuse, exploitation, and trafficking; securing access to education; and setting a foundation for gender equality.

Donors are incentivized to give by receiving entries to win an Apple Vision Pro mixed reality headset. More information and donation options can be found at https://donateto.win. The sweepstakes to support Street Child United will continue until 11:59PT on August 31, 2024. The winner will be announced on or around September 20, 2024.

Matthew McGahan, CEO of Lottery.com, said: ā€œThis is a significant milestone for Lottery.com. The Company, through its partnership with the WinTogether Trust, is resuming its commitment to supporting philanthropic initiatives that focus on responsible gaming along with local, regional, and global charitable initiatives. Street Child United is a wonderful organization. We believe their mission will resonate with the Sports.comā€™s growing global user base.ā€

Bart Myers, Director of the WinTogether Trust, said: ā€œThe WinTogether Trust board is excited for our organization to play a role in the resurgence of Lottery.com. Being able to leverage their powerful brands, Lottery.com and Sports.com, will allow us to exponentially expand the number of organizations we support and the financial impact our sweepstakes make for them.ā€

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Gambling in the USA

Colorado Launches Illegal Gambling Awareness Campaign

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The Colorado Division of Gambling has launched a new illegal gambling awareness campaign.

The ā€œPlay Legit. Gamble Only Where Legal.ā€ campaign aims to educate the public about the risks associated with illegal gambling and the importance of supporting regulated gaming venues.

The campaign emphasizes legal gambling options, including casinos in Black Hawk, Central City, and Cripple Creek, as well as online sports betting and off-track betting.

ā€œWith many certified and legal gambling sites available, itā€™s never worth it to put yourself in danger. Together, letā€™s play by the rules and ensure that Colorado remains a safe and responsible gaming destination. By recognizing and preventing illegal gambling, we all win,ā€ Chris Schroder, Director of the Colorado Division of Gaming, said.

In Colorado, gambling opportunities abound, but not all are legal. Illegal gambling operations not only fail to protect players but can also serve as a breeding ground for serious crimes, including fraud, human trafficking, drug trafficking, and burglary, posing a threat to public safety and community well-being. Participants in illegal gambling activities also compromise personal and financial information, putting individuals at risk of identity theft, unreliable payouts, and potential legal consequences, such as fines and imprisonment.

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GamingAmericas.com (part of HIPTHER) is your one-stop portal for the latest news, insights, and analyses in the gaming industry across the Americas. From legislative updates and market trends to interviews with industry leaders, we provide a comprehensive look at the dynamic landscape of both online and land-based gaming. Whether you're a stakeholder looking to stay ahead of the curve or a gaming enthusiast eager for reliable updates, GamingAmericas.com has got you covered. Follow us on social media and subscribe to our newsletter for real-time updates and exclusive content. Make informed decisions and stay ahead in the game with GamingAmericas.com.

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