Industry News
The Real Worth of Malta’s iGaming Industry
The original source of the information found beneath was created by Rebecca Anastasi (MaltaChamber.org.mt) – View original source here.
Malta’s iGaming sector contributes over 12 per cent of the country’s GDP. Does it have a knock-on effect in the economy?
The official figures about online gaming industry reveal overall prosperity, high employment and revenue rise. Its worth is estimated roughly to be €1.2 billion, or over 12 per cent of its GDP. However, but these direct effects tell only part of the story. The iGaming industry has also positively affected the other industries in the country as well.
Leisure and entertainment
The rise of iGaming has “coincided with the increase of affluent business professionals on the island”, according to Jon Grafton, Creative Marketing Manager for Azure and Azure Ultra – an outfit which organises yacht charters. Mr Grafton says that the industry sees chartering a yacht “as an ideal way to spend leisure time and de-stress.” He estimates that around 20 per cent of Azure Ultra’s business comes from those involved in iGaming, from professionals seeking to book a private charter or from businesses organising team-building exercises. “The increased demand has had a positive impact on our bottom line, which we plough back into the business through purchasing more yachts and employing more captains and crew,” Mr Grafton explains.
Indeed, as a result of the increased business, the agency has created tailor-made charter packages for the sector, since “iGaming-oriented bookings tend to include a lot more special requests in terms of cuisine, water-sport activities and themed itineraries, such as famous film locations around the Maltese archipelago,” he says. Moreover, the company has had to become more flexible to accommodate last-minute changes, and bookings, in order to keep up with the demands from the sector. The team also now includes a specialist charter executive “who is a wiz at creating bespoke charter packages.”
While Azure is experiencing an increased demand for specialised on-board catering and services, such as massages or water-sports instruction, which do come as an extra cost, it is careful to ensure that its prices are fair. “Our prices are always right because we – quite uniquely among Malta yacht charter companies – own our own yachts and they’re all fully insured,” Mr Grafton says. In the future, the company plans to keep building on this success, offering corporate conference packages at sea. “iGaming has a great need for variety and excitement, and that’s what we’ll offer,” Mr Grafton asserts.
Back on dry land, catering establishments in the main entertainment areas of Valletta, Sliema and St Julian’s seem to be constantly pounding with patrons, with tables often difficult to secure, unless you have a booking. Robert Bonnici, PR and Marketing Manager for the ubiquitous Hugo’s brand, underlines this “positive effect” on the industry. Not only do professionals working in the iGaming sector “frequent our venues on a regular basis, but their spend is often much higher than average,” he explains. Moreover, there has been a demand for corporate functions and private events catering to the local and international iGaming community according to Robert.
Andrew Galea, the Sales and Marketing Manager of hotel Group Corinthia, adds that while the company picks up some business for corporate and social events, as well as some hotel bookings for visiting delegates, the business accrued during industry conferences, such as Sigma, is what really makes a difference to the company’s bottom line, with many delegates staying in the hotel. Indeed, the remote gaming sector is a market the Group is very interested in. “We are currently in the process of promoting the range of services Corinthia possesses, not only in terms of hotel rooms, but also ancillary entertainment services such as restaurants, bars and event venues,” Mr Galea says.
IT infrastructure
As a sector which relies heavily on technology, iGaming requires high-level resources and services. Computime Software, a company which specialises in providing IT infrastructure, software and business solutions, is one stakeholder which supplies such products and capabilities to businesses operating in Malta’s online gaming industry.
John Wood, the company’s CEO, says that the company has seen a positive multiplier effect arising from the increased business with iGaming companies. “The sector attracts large multinational iGaming operations which create demand for the software and infrastructural solutions which we deliver,” he states, going on to assert that this accounts for “currently, approximately 15 per cent of our revenue.” The most common solutions on-demand are IT engineering and infrastructural solutions, IT security products and services, and software solutions focused on compliance monitoring and marketing optimisation, he explains.
He also notes that iGaming clients demand sophisticated solutions and, as a result, the market “provides us with an opportunity to develop our business, and to adapt our solutions by widening our product portfolio with a clear focus on servicing iGaming companies.” Indeed, he explains the changes in the type of solutions the company is currently offering, specifying that Computime is customising its software solutions to meet the specific demands of the iGaming sector, enabling them to deliver a quick return-on-investment to their clients. Other changes the company has instituted include adapting its client onboarding process to make sure “we only do business with reputable and established iGaming companies”, allowing the company to better manage its payment and credit terms, along with the other business risks inherent in such an enterprise.
Insurance
The meteoric rise of the iGaming industry has also resulted in a demand for ancillary corporate services in a variety of fields such as insurance. “Remote gaming has provided a lot of potential to prove our mettle in managing the varied and sometimes complex insurance requirements that the Gaming industry needs,” says Malcolm Ellul, Associate Director of Mediterranean Insurance Brokers, specifying that it now manages a sizable gaming portfolio, which is growing rapidly in size.
While Mr Ellul admits it is hard to establish the percentage of MIB’s business derived directly from the iGaming sector, he claims that the requirements are broad and range from “the direct insurances taken out by the business operators themselves” to “affinity and benefit schemes for employees.” In the future, the company hopes to attract even more interest, and, to this end, it has started attending Gaming-related conferences locally and overseas, and “plans to remain a market leader in providing insurance arrangements for the gaming Industry” since “gaming falls within the natural growth process of the Group,” Mr Ellul asserts.
Indeed, this seems to be the trend, for as Malta continues to attract further investment in the field of iGaming, businesses in attendant sectors are gearing up to continue offering the specialised resources to the sector, thus enabling Malta to retain its competitivity and its winning streak.
Source: MaltaChamber.org.mt
Industry News
MiFinity to Showcase Innovative iFrame at SiGMA 2024
MiFinity, a leading global payment services provider, is excited to announce its participation at SiGMA 2024, held in Malta from 12 to 14 November. Visitors can find MiFinity at Stand 2012, where the team will be showcasing its award winning PayAnyBank service, and the latest version of the MiFinity iFrame and demonstrating how it helps iGaming operators acquire and retain players with a seamless, flexible payment experience.
Paul Kavanagh, CEO of MiFinity, commented: “SiGMA is a fantastic opportunity for us to showcase our latest developments and engage directly with the iGaming community. The MiFinity iFrame is a game-changer for operators looking to streamline their payment processes and enhance the player experience. We look forward to demonstrating its capabilities and connecting with both existing and prospective partners.”
MiFinity’s Business Development and Account Management teams will be on-site to discuss the new iFrame features in-depth and highlight how MiFinity can optimise payments for iGaming operators. They will also be showcasing MiFinity’s innovative suite of payment solutions developed specifically for the iGaming sector, including MiFinity PayAnyBank — a powerful tool that enables operators to send payouts directly to players’ bank accounts in multiple countries and currencies, enhancing the user experience with faster, more localised transactions and reduced FX fees.
The MiFinity Affiliates team will also be available to explain the benefits of MiFinity’s affiliate program, which offers some of the highest commissions in the industry and unique promotional opportunities via the MiFinity Bonus website.
Meet the MiFinity team at Stand 2012 at SiGMA 2024 to learn more about the company’s solutions and how they are transforming the iGaming payment landscape. Pre-book a meeting with the MiFinity team or drop by the stand during the event to explore how MiFinity can support your business.
Book a meeting here > outlook.office365.com/book/[email protected]/
Industry News
Dutch Mental Health Care Calls for Total Ban on Online Gambling Advertising
The Dutch mental health service is calling for a total ban on online gambling advertisements in the Netherlands.
Although a ban on untargeted gambling advertisements and a ban on the use of role models has been in effect since 2023, a recent research by KRO-NCRV’s Pointer shows that (illegal) gambling companies and sports tipster platforms are still enticing young people via social media such as TikTok and Snapchat.
By using influencers and terms like “free money”, they try to attract a young audience and thus lower the threshold to start gambling. This concerns both legal online casinos and online casinos that do not have a license in the Netherlands. The Gaming Authority has started an investigation based on Pointer’s findings.
Pointer’s research shows that part of the gambling industry deliberately targets young people who are often susceptible to promises such as “fast money” and the influence of role models. Ruth Peetoom, chair of the Dutch mental health service, compares this approach to that of the tobacco industry, where similar marketing strategies were used to get young people to smoke.
Despite the existing advertising ban, gambling companies continue to explore the boundaries of the law, according to Peetoom. The Dutch mental health and addiction care associations in the Netherlands therefore push for a total ban on online gambling advertising and stricter rules for the duty of care of gambling providers.
With the call for a total ban, the Dutch mental health care sector hopes to prevent further normalisation of gambling behaviour among young people and to protect them from the temptation and consequences of online gambling.
Compliance Updates
UKGC: Market impact data on gambling behaviour – operator data to Oct 2024
The Gambling Commission has published further data on the gambling industry in Great Britain.
This data, sourced from operators, reflects the period between March 2020 and September 2024, inclusive, and covers online and in-person gambling covering Licensed Betting Operators (LBOs) found on Britain’s high streets.
Comparison should not be made with the industry statistics dataset, as this dataset may include free bets and bonuses and does not include data from all operators.
This release compares Quarter 2 (Q2) of financial year 2024 to 2025, with Q2 of 2023 to 2024, looking at how the market has changed in comparative periods over a year.
The latest operator data shows:
- online total Gross Gambling Yield (GGY) in Q2 (July to September) was £1.32 billion, an increase of 11 percent from Q2 the previous year. The overall number of total bets and/or spins increased 12 percent Year-on-Year (YoY), reaching a new peak for the third consecutive quarter of 25.2 billion, whilst the average monthly active accounts2 in the quarter increased 8 percent
- real event betting GGY increased by 6 percent YoY to £453 million. The number of bets decreased 10 percent, while the average monthly active accounts in Q2 increased 9 percent
- slots GGY increased 16 percent to £680 million YoY. The number of spins increased 13 percent to 23.3 billion while the average monthly active accounts in Q2 increased 16 percent to 4.4 million per month. Although this is a new peak for GGY in this dataset for the slots vertical, it should be noted that one operator has re-classified some of its products into the slot vertical this quarter, which has had an impact on the vertical data
- the number of online slots sessions lasting longer than an hour increased by 9 percent YoY to 10 million. The average session length remained at 17 minutes. Approximately 6.1 percent of all sessions lasted more than one hour compared to 6.6 percent in Q2 the previous year. The number of spins per session has fallen from 147 to 142 YOY, whilst the GGY per session has fallen from £4.20 to £4.13 in the equivalent timeframe
- LBO GGY decreased by 1 percent to £533 million in Q2 2024 to 2025, compared to the same quarter last year, while the number of total bets and spins decreased by 0.1 percent to 3.1 billion.
-
Asia6 days ago
NODWIN Gaming partners with Japanese gaming company KONAMI for ‘eFootball Diwali Showdown’
-
Australia7 days ago
Australia’s BetStop Receives International Regulatory Award
-
Latest News7 days ago
BETBY WELCOMES MAGNUS CARLSEN AS GLOBAL BRAND AMBASSADOR
-
Compliance Updates7 days ago
KSA Imposes a Fine of €675,000 on NetX Betting Limited
-
Asia6 days ago
Revenant Esports and Team XSpark Join Forces to Form Revenant XSpark, ScoutOP Revealed as Brand Ambassador
-
Central Europe6 days ago
NOVOMATIC builds the Group’s largest photovoltaic system in Lower Austria
-
Latest News6 days ago
Videoslots Launches DBET in Sweden with International Tipset Pools
-
Gaming7 days ago
The mobile gaming market is growing and attracting new companies. GAMIVO is the latest example