Malta May Become Home to Online Casinos

Following many months of preparation, the Mediterranean island of Malta is about to join the list of international gambling jurisdictions.

The new online gambling regulations for the island were due to be released to the public as we went to press this week, opening up new opportunities for the island to increase income and employment at island Support centres.

It is expected that the governing Maltese Lotteries and Gaming Authority will issue the first new licenses soon after the publication of the regulations.

George M. Mangion, whose company, PKF Fiduciaries has been promoting Malta as an e-betting and e-gaming base, says the licences could be a much needed tool to stimulate the economy and generate sustainable employment.

Malta potentially qualifies as a low-cost, high-tech domicile for online casinos and e-gaming operations, he said in a press release. Malta understands the commercial realities facing the e-gaming industry and therefore has adopted a commercially realistic approach towards regulating the industry. Certainly it combines a stable political and communications structure with a competitive tax structure.

According to Mangion, licensees will have to operate to strict standards, with authorities examining the probity of management and owners, and the financial position and background of the company.