30/10/2009, Online casino
Tonio Fenech, the finance minister for Malta, revealed interesting financial statistics regarding the tax revenues in Malta.
Malta is one of the major European countries that grant licenses to online gambling operators. The Mediterranean island has already experienced a strong economic growth thanks to the online gambling industry development.
The finance minister for Malta, Tonio Fenech, presented, during a seminar on gambling - at “Le Meridien St. Julian’s Hotel”, - some relevant information.

According to Fenech, the gambling industry counts over 2,500 employees and it has already generated over 15.6 million Euros in tax revenue last year. These figures show an increase of 35% over the previous year.
During an online gambling seminar, Fenech also said that over the last five years, the Lotteries and Gaming Authority of Malta processed over 500 applications for remote gaming licenses including: Entraction, Unibet, Everest, Boss Media or Mangas Gaming.

“The government considers this as an increase in economic activity that generates a multiplier effect in the economy. As part of its vision to turn Malta into a centre of excellence in IT, the government has invested thoroughly in this field, nurturing and moulding its growth in the past 15 years. This has been the main driving force for Malta’s success in remote gaming,” he said.

According to Tonio Fenech, the government revenue from the iGaming industry will amount over 19 million Euros this year and the main objective is to attract foreign direct investments in order to create job opportunities and to ensure fair and safe games.
The finance minister thinks that the industry is encouraging because many new operators still continue to express their interest in obtaining a licence in Malta.