There are several entertainment centers around the world such as in Gibraltar, Isle of Man and New Jersey.
However, an emerging capital is fast becoming the go-to favorite of many travelers looking to have fun and it’s none other than the island of Malta which is located at the center of the Mediterranean Sea.
Ever since Malta joined the European Union in 2004, it has become one of the leading regulators in the iGaming industry through its stringent rules when it comes to monitoring and licensing gaming operators. Thus far around 500 licenses have been issued by the MGA to most of the top companies.
The reasons why Malta has become the capital of the iGaming industry is multi-faceted. The convenient regulations and being dubbed a tax haven for the broad spectrum of related companies is one of the major factors.
What’s more, Malta is situated in the most ideal sweet spot – at the heart of the Mediterranean and along with this, is its appealing culture.
Favorable Conditions for the industry
Many of the leading brands within the iGaming industry have set up their headquarters in Malta, the majority of which are located anywhere between St Julian’s and Ta’ Xbiex, which is the ultimate location for commerce as well as other benefits such as an unbeatable sea view and the whole area buzzing with life most especially during the hot summer months.
Hundreds of iGaming companies have found it advantageous to relocate to Malta primarily due to the prominent gambling license which the Malta Gaming Authority grants to online gambling operators.
This draws companies due to the favourable tax systems which include reduced income tax rates, dividends refunds, double tax relief and other perks. These encouraging tax rates make Malta a very competitive market. What’s more, non-residents wishing to relocate are eligible to various attractive schemes.
Malta has become the headquarters to many companies within the gambling world from software developer companies and distinguished online casinos to betting companies.
What’s more exciting is the fact that Malta hosts an important week of events of the industry which is SiGMA held every November and has become the iGaming village that hosts over ten thousand attendees and 200 speakers from over 80 different countries. During the exciting event, there are 2,500 affiliates and 400 sponsors attending.
What are the Benefits?
One of the biggest attractions for businesses thinking about relocating to Malta, is the sunny paradise it offers. This is especially the case for northern European countries who scarcely get as much sunshine as this little island off the coast of Italy.
Malta has around 300 days of sunshine a year and obviously plenty of great spots to hit the beach in summer. Besides this factor, people are spoilt for choice when it comes to leisure and entertainment. For history lovers and party animals, there is a whole range of activities people can do on their time off.
Speaking of time off, many of the iGaming companies focus on creating an excellent work-life balance for all their employees. Many companies host parties, workshops, and events throughout the year of enforcing both professional and personal development.
Additional benefits include a Malta membership in the European Union. This means there is freedom of movement within all countries in the EU block, not to mention the brilliant flight connections as well as the above average health care and low crime rate.
To further ice the cake, English is one of Malta’s official languages which is effectively a great appeal to people of diverse nationalities. It should come as no surprise then that Malta has in recent years become a multinational and a multicultural country.
Career Growth and Development
With the vast amount of companies setting up shop in Malta, comes a plethora of job opportunities. Over 330 companies are based in Malta including some industry giants like MultiLotto, Betsson, Betfair and even software development companies like NetEnt.
The iGaming industry in Malta currently employs around 9,000 people and the numbers are continuing to grow. There is a demand from a range of fields from content managers of various languages, to web designers and developers to finance controllers, Marketing and SEO managers.
In order to tap into this potential, there is an investment in training developing skills and talents of employees training and development for required skills for both local and foreign individuals and for both people looking for a career change or to advance further in their career field.
Currently, the iGaming industry contributes between 12% and 13% to the GDP which sums up to a whopping €700 million.
One cannot simply exclude the generous perks associated with working within the gaming industry. There are standard benefits for employees which promise career advancements, attractive salaries as well as superb working conditions and creating opportunities for positive social interactions with fellow teammates and colleagues.
This means that in this fast-paced and continuously developing sector, the work environments are always interesting and there is even time dedicated to focus on each and every employee’s personal development.
This combination creates a perfect balance between enjoyment and responsibility. The offices are usually extremely welcoming with their kitchens stocked up with healthy food and drinks.
There are several events and workshops organized and gym memberships covered to ensure employees make the most of their off time. Through enhancing the sense of community within the company creates positive effects on both a professional as well as personal level.
The philosophy is that with the right mindset, there is a higher success rate and better performance at work.
The Future of iGaming in Malta
The growth of the iGaming industry is fuelled through the internet revolution and even further through the advancements in smartphone technology.
Everyone is always connected at every hour of every day. iGaming companies have focused on developing mobile-based platforms of cater to the convenience sought after by their users.
Malta prides itself on being a microcosm of Europe and in becoming one of the most trustworthy gaming hubs. The MGA’s approach is somewhat transparent and secure and in charge of maintaining a well-regulated market.
The iGaming hub is predicted to generate €24.9 billion by 2020 which is certainly an achievable goal, considering the rate at which businesses are developing.