The investment in new offices in Smart City by the Malta Gaming Authority will further sustain the necessary physical and human resources which are essential for the evolution of this Authority and the industry which it regulates, Prime Minister Joseph Muscat said on Monday evening.
Speaking at the opening ceremony, Dr Muscat said that at the beginning of this legislature Smart City was largely unutilised, almost a ghost town. Now Smart City is booming with economic activity and innovation and has become one of the major areas of economic activity in the South of Malta. The opening of these offices in Smart City further strengthens the Government’s resolve to make the South of Malta part of the economic success.
A new specialised hospital with an investment of €100 million will start operating here as Malta continues to explore new economic niches such as specialised medicine. Smart City will also host a new Institute of Tourism Studies campus; a project which will cost €56 million euros which further strengthens the education provided to students who want to follow a career in such an important industry for our islands, making it also a centre of excellence to attract international students to Malta.
Smart City is also host to other large technology companies, he said.
The pace of innovation of the gaming industry is breathtaking and for a regulator to keep up with the times it is indeed a challenge. The easiest way for us is to sit back and let the industry grow, reaping much bigger profits for the country.
Instead, we are taking the responsible approach to keeping up with the pace of changes. If we believe the world has changed in twelve years, just imagine the changes in technology in the same period.
“I dare say that through the new Gaming Act which is being drafted, we can be ahead of the times by anticipating trends of this changing industry, its products and consumer behaviour. The Gaming Authority’s aim to prepare legislation which will serve the industry for the next 10 to 15 years is bold and refreshing. Indeed, a model to other authorities which should prepare themselves for the future or fight for its survival,” he said.