At the end of 2016, the gaming industry directly accounted for almost 6,200 jobs in full time equivalent, an increase of almost 1,500 jobs over 2015, according to the Annual Report and Financial Statements published by the Malta Gaming Authority year ending 31 December 2016.
The Annual Report highlights the increase of almost 1,500 jobs over 2015. "When one factors in indirect employment through associated businesses, the number increases to around 9,000 jobs in 2016," they said in the press release.
The report provides an overview of the activities and work performed throughout the year by the MGA. The Report also glances at 2017 and beyond, being a year of transition for "the Authority and for the Maltese gaming sector."
The report also states that during the year under review, the MGA generated a total revenue of €62.5m compared to €60.9m in 2015.
This represents an increase of €1.6m or a 2.6% year-on-year increase. Furthermore, contributions in gaming taxes made to Government in 2016 amounted to €56.2m compared to €55.8m in 2015. This represents an increase of €0.4m or a 0.7% increase year-on-year.
The gaming industry is estimated to have generated just over €1 billion in terms of gross value added in 2016, according to the press release. This represented a 12% growth over 2015, when the industry had already increased its gross value added by a similar amount. As a result of these developments, the gaming industry increased its share in economic activity to around 11.6% in 2016.
The number of remote gaming licenses has also increased to 513, representing a 5% year on year increase. In 2016, the Authority proceeded with the work on the overhaul of its regulatory framework which was started in early 2015 and which will come into force in 2018, according to the press release.
Joseph Cuschieri, Chairman of the Malta Gaming Authority, said, "I feel proud of the Authority's achievements during the year under review. These achievements engender a strong sense of responsibility for the Authority to ensure a continued, safe and sustainable growth of the industry, in a challenging global environment".