Since the release of Malta’s vigorous iGaming framework in 2004, the country has established itself successfully as the leading destination for online gaming and tech companies. Among other things, it is the favourable Malta gambling license requirements, processing, and monitoring, that attracted entrepreneurs, investors, and tech-savvy professionals to the Mediterranean paradise.
A Quick Look at Malta’s iGaming Industry
Yes, there are other top-performing iGaming hubs around the world, such as the Isle of Man, Gibraltar, and the Philippines. But experts seem to have agreed that Malta’s diversity and strength are unparalleled to date. This can be seen when some of the world’s biggest iGaming names, such as UK’s PlayFrank and Sweden’s NetEnt, opted to open their headquarters in Malta.
In 2008, during the early years of Malta’s iGaming industry, online gaming and gambling already created jobs for 2500 people and €15.6M in tax revenue. This increased the government’s tax collection that year by 35% higher than the previous year.
Today, thanks to the favourable Malta gambling license and taxation system, the iGaming industry accounts for about 12-13% of the country’s GDP. Experts also expect the industry’s size to reach $127.3B by 2027. And Malta will continue to be a leading player.
Reasons iGaming Companies Choose Malta
As of 2017, The Stars Group, PaddyPower Betfair, and Kindred were the top three most lucrative iGaming companies in Malta based on net profit. These companies and other ventures opened in Malta for the following reasons:
1. Favourable Gaming Tax and License Regulations
Malta is one of the 7 tax haven countries in the Eurozone. The government collects a 5% gaming tax from Malta-based players and 35% corporate tax from remote gaming operators. The fixed B2C annual license fee is €25,000. And iGaming companies have 4 different license and approval options to apply for. Investors and entrepreneurs can also find gaming tax advisors easily to guide them as they start their venture. Government support opportunities are also available to aid the daily operations of start-ups.
2. Ultramodern Technological Infrastructure
FinTech and ICT-based companies flock to Malta primarily because of the country’s top-notch technological infrastructure. Indeed, Malta compensates its small land area with its larger than life e-government and online business ventures. The country is committed to becoming a leader in tech and research and brings this vision into different areas of the economy, be it in the education (UM’s ILEARNRW), clinical study (TRANSFORM), and, of course, and business (iGaming) sectors.
3. Mediterranean Scenery, Climate, and Culture
Whether you’re a gamer, operator, or investor, you can certainly find a place in Malta that can give you a feast for the senses. On Maltese soil, you can enjoy a perfect blend of virtual and physical world you can seamlessly juggle without a sweat. You can spend your work-week geeking about FinTech and blockchain. After work, for a breather, you can visit the architectural masterpieces at the capital, Valletta. Come the weekend, you can enjoy a two-day hiking, diving, or swimming spree.
4. Diversity of Office Space Solutions
Malta’s real estate industry is also thriving and is expected to support all other sectors of the country, including iGaming. Here you can easily find a suitable commercial office space, whether you are looking for a short-term or long-term rental agreement. This is also one of the reasons Malta is the home and host of the SiGMA events, which brought together over 12,500 attendees, 400 companies, and 200 industry leaders from 80 countries in 2018. There’s never a shortage of event space to choose from.
5. Talented Workforce
Malta also boasts of its highly talented and skilled workforce. It’s not a surprise that the country is one of the hubs for emerging technology research and applications, knowing that it has one of the world’s best tech infrastructures. You can easily find here developers, business development experts, and tech specialists to start, support, and grow your iGaming business.
Malta’s progressive economy, favourable tax regulations, rich culture, and attractive landscape all contribute to its appeal as an iGaming hub. Online gaming and gambling are things you can do anywhere and at any time. So, you might as well do these digital ventures in a place where there is an availability of almost all opportunities you need, be it business, education, or leisure.
