The Malta Gaming Authority announced this week that the gambling industry generated €1.56 billion to the country's economy in 2019, up 9.6% from the year prior.
Gambling groups, particularly iGaming groups are prominent in the region, seeking licenses and paying out for licensing fees and employing many. The jurisdiction canceled 14 licenses and there are 294 that are currently available. The total generated takes in the value of good and services produced minus value consumed, meaning that gambling is a net positive for the region.
There are more than 20.4 million player accounts that are active with casino operators licensed in Malta, and the majority of revenue was brought in by Class 1 Casinos, with Class 2 wagers (sportsbetting) making up 36.3% of revenues.
In their report the MGA wrote: "Furthermore, gaming contributes to the generation of value added through linkages to other major sectors, including professional services, financial and ICT activities, hospitality and catering services, distributive trades and real estate."
MGA CEO Heathcliff Faruggia added: "In 2019, a great focus was placed on ensuring that the Authority's governance and structure reflected the increased focus on compliance and enforcement. More resources were given to compliance, with the scope of implementing the risk-based approach towards regulation more effectively."