Maltese gaming industry continues to positively impact the country’s economy through its role of a key driver of economic growth and innovation. The gaming industry in Malta contributed EUR 810.7 million, or around 9.5%, to the country’s Gross Value Added (GVA) during the first half of 2023. Over the same period, the industry’s overall contribution to the national economy accounted for 12.2% to testify about its crucial impact on the economic outlook of the Maltese economy.

Reaching 12.2% Stake in Malta’s Economy

The argument is further supported by the fact that the gaming industry growth in the first half of 2023 reached around 1.1% higher level than in the same period of 2022. By June 30, 2023, the Maltese Gaming Authority (MGA) approved licenses to 335 online and land-based companies following the 2022 figure standing at 357 MGS-license companies to underline the industry’s stability and a continuous contribution to Malta’s economy.

In the same period of 2023, the regulator collected EUR 41.2 million in license fees and compliance levies. When compared to EUR 39.8 million collected by MGA in the first half of 2022, it is evident that the industry has kept the momentum and maintained financial resilience. Also, the industry’s GVA increased from EUR 801.8 million in H1 2022 to EUR 810.7 million in the first half of 2023 to showcase a 1.1% growth achieved by the industry on a year-over-year basis.

Expecting Further Growth in 2024

The growth was propelled by 26% increased visits to local casinos in the first half of 2023.The gaming sector therefore directly contributed around 9.5% to the country’s economy and is expected to continue growing at a slightly slower pace. In 2024, 74% of online gaming operators expect further revenue growth while 60% of them anticipate increased employment. On the contingency side, operators generally expect higher operating costs and divergent regulatory actions requiring quick adaptation.

Commitment to Innovation and Social Responsibility

The industry promotes transparency and responsible gaming and considers the integration of environmental, social, and governance (ESG) principles essential for long-term profitability. Also, the utilization of emerging technologies enables the gaming sector to maintain customer interest through innovative integrations of traditional and other games. For example, innovative products like digital receivables and tokens are increasingly included in transactions and supported by the regulatory body.

As a result, Malta’s gaming industry expects positive market trends in the forthcoming period and continues to adjust the established gaming landscape to the evolving regulatory framework and emerging market trends. Overall, the sector maintains its stability and continues to drive Maltese economy.

Source: “MGA Interim Report 2023: Malta’s gaming industry maintains strong economic contribution’’. SiGMA. December 2023.

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Booming Games, a developer of online real money gambling games, has revealed that it has moved its Maltese office from Enn Glad, Msida, to the Quad in Mriehel, resulting in the company boosting its presence in a prime and prestigious location, in one strategic move.

Office Upgrade

Having experienced tremendous growth in its operations in Malta, meaning it was able to recruit highly trained professionals, the company needed an updated office space that was necessary to keep pace with the developer’s accomplishments and future goals. Furthermore, when deciding on a location for an upgraded office, an office in the Quad was a suitable solution as it is nicely furnished and provides a number of benefits that involve a gym, restaurants, childcare facilities, and shops among many others. However, that’s not all; because the office space is truly the best with a huge commercial area of 44,000 square meters and more than 7,000 square meters of open space.

Commenting on the new office, Max Niehusen, Chief Executive Officer of Booming Games, said: “I couldn’t be more elated about our recent move to the Quad office, a true embodiment of our success story. Choosing the Quad as our new office location was a natural choice as it aligns perfectly with the vision we have for our future. And for us, it’s more than just an office. It’s a symbol of our relentless pursuit of excellence and our commitment to providing an exceptional work environment for our incredible team.”

In this regard, Frederik Niehusen, the Chief Commercial Officer at Booming, added: “I am thrilled with our move to the Quad office; a dynamic location that perfectly aligns with our commercial aspirations. Its sophisticated design and top-notch amenities, including excellent restaurants, elevate our client meetings, fostering stronger connections, fueling creativity, and propelling our commercial success to greater heights.”

About

The company started operations in 2014 and is now located in Malta. More importantly, it operates under a license issued by the Malta Gaming Authority. In addition, the company also has certificates from other official regulatory bodies such as Agenzia Dogane Monopoli, Spillemyndigheden, and Alderney Gambling Control Commission. Its main focus is on producing high-end games, and so far they’ve been quite successful at that, despite the fact that titles are released in very quick succession. Still, none of their products feel rushed, and their portfolio is massive and consists of a huge variety of different game types.

Games created by the developer are regularly checked by official regulatory bodies such as Spel Inspektionen and Quinel Limited. 

Source: “Booming Games Levels Up: Maltese Office Now Located at the Prestigious Quad In Mriehel”, European Gaming, August 1, 2023

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