MGA reports revenue increase of 4.3 percent in 2015

Malta Gaming Authority reports revenue increased 4.3 percent year-on-year as a result of growth in both land-based and remote gaming segments for the year ended December 31, 2015, according to the annual report released on Tuesday.

 

According to the annual report, MGA generated a total revenue of €60.9 million (US$68.9 million), compared to €58.4 million in 2014, representing a 4.3 increase year-on-year. Furthermore, MGA saw €55.8 million in gaming taxes, up 4.9 percent year-on-year.

MGA said it continued to focus on an overhaul of the current legislation in 2015, which “will provide an innovative regulatory framework which is robust and flexible enough to provide for effective regulatory oversight and at the same time facilitate industry growth and evolution.”

It also strengthened the regulatory oversight function through the setting up of a Supervisory Council during the year.

“2015 has been a very intensive and rewarding year on many fronts for the MGA…. The aim of the three-year strategy launched in 2014 is to create a sustainable industry base in the face of the challenges emanating from the European and global gaming sphere, as well as harnessing the growth of the sector through the diversification of markets and products made possible by innovative technologies and emerging markets,” stated the MGA’s executive chairman, Joseph Cuschieri. “An increased focus on quality, innovation, fairness, consumer protection, proportionality, evidence-based regulation and consistency run through the building blocks of the Authority, its processes and the policy initiatives being taken up, are an integral part of the underlying strategy”, continued Mr Cuschieri.

MGA said it will be focused on providing a “coherent governing regime that is principle-based, focused on regulatory performance and outcomes” in 2016.