Have you ever considered why Malta, a tiny cluster of Mediterranean islands, is becoming such a magnet for iGaming companies? Not only does its warm sunshine and stunning beaches draw visitors in droves, but Malta is also becoming a centre for this industry.
Now, you may be asking why business owners and casino operators like yourself are attracted to Malta – could it be its supportive regulations, attractive tax incentives, or vibrant communities?
Malta presents many opportunities that savvy entrepreneurs can exploit for significant expansion and growth.
This article explores Malta’s current iGaming industry landscape and future potential, discussing some of the reasons iGaming businesses have come flocking to Malta.
The Future of iGaming in Malta
Malta has established itself as a centre for iGaming businesses, drawing businesses from around the globe to establish operations here. Here’s what iGaming looks like for Malta:
Malta Is Home To A Thriving Industry
Online casinos are flourishing in Malta, and they are not just surviving! The market in Malta is projected to experience compound annual growth rates of 5.52% between 2024 and 2028, reaching a market size of US$410.90 million by 2028.
Innovation and Technology
Innovation is at the core of iGaming, and Malta has long been at the forefront of this movement. Thanks to advances in virtual reality, artificial intelligence, blockchain technology, and other cutting-edge innovations, Maltese players are set for an exceptional gaming experience that not only enhances player retention and industry growth but also provides increased security and trustworthiness within gaming experiences.
Malta Is A Centre of Talent
Malta has long been recognized for its ability to attract top talent from around the globe, both through its educational system and attractive career opportunities. Thanks to this talented workforce, the iGaming industry benefits from having access to an abundance of expertise from game designers to data analysts – both fields thrive here in Malta’s iGaming ecosystem.
Regulation Evolution
Malta Gaming Authority (MGA) is well known for its aggressive regulatory stance. As the industry evolves, Malta’s regulatory framework has adjusted accordingly to remain transparent, fair, and competitive in this dynamic industry. We expect Malta’s laws and regulations to adapt over time as new needs emerge in this rapidly developing sector.
Sustainable Growth
Sustainability is at the core of Malta’s iGaming industry’s long-term success. In addition to generating revenue, Malta is committed to responsible gaming practices that minimize gambling’s social impacts while creating an ideal environment for its industry to flourish.
Why do iGaming Businesses move to Malta?
Let’s consider the advantages of operating an iGaming business in Malta over other countries.
- Malta was among the first jurisdictions to recognize the potential of online gaming and introduce laws explicitly tailored for iGaming businesses. Their government provides an enabling and transparent legal environment that fosters growth and development in this sector.
- Attractive Tax System: Malta offers an attractive tax system for iGaming companies, including competitive corporate and gaming tax rates and an extensive network of double taxation treaties, which can further lower tax burdens for businesses operating there.
- EU Membership: As a member of the European Union, Malta provides gaming businesses access to Europe as a market. Licensees in Malta have freedom of operation within Europe to offer services.
- Skilled Workforce: Malta boasts a highly educated, multilingual workforce familiar with the iGaming sector’s needs, making it easier for companies to recruit and retain talented personnel for their operations.
- Remarkable Infrastructure: Malta has made substantial investments in its technological infrastructure, ensuring businesses can access high-speed internet and cutting-edge data centres that support online gaming platforms.
- Quality of Life: Malta boasts a high quality of life with its warm climate, history, and culture. These features attract foreign workers who wish to settle there permanently or temporarily and are an asset for companies seeking international talent.
Conclusion
The future of iGaming in Malta appears bright. Thanks to strong regulatory oversight, a commitment to innovation, talented professionals, and sustainable growth goals, Malta looks set to remain at the forefront of iGaming for years to come—be it as a player, developer, or investor.
FAQs
How Can A Company Acquire An iGaming License in Malta?
In Malta, to acquire an iGaming license, a company must go through the Malta Gaming Authority (MGA). This process includes submitting an application including business plans, software information, and proof of financial stability as part of an application for licensing from MGA; they conduct thorough checks before awarding licenses.
What Taxes Must iGaming Companies Pay in Malta?
Companies operating iGaming sites in Malta must comply with corporate taxes like any other business. However, they also enjoy an advantageous tax system – including gaming tax exemption and VAT relief for certain operations. Exact rates depend on their license type and revenue generated.
Are iGaming operations in Malta regulated for player protection?
Yes, the Malta Gaming Authority enacts stringent player-safety regulations that ensure fair games, secure transactions, responsible gaming measures, and the protection of minors and vulnerable people.