Casino-for-me Ltd, the 250th company to be granted an online gaming licence by the Lotteries and Gaming Authority, was yesterday officially inaugurated by parliamentary secretary Tonio Fenech.

Mr Fenech said online gaming in Malta was a growing niche market in view of the various companies deciding to set up office here and now Malta hosts around 10 per cent of known and registered online gaming companies worldwide.

Casino-for-me is not just the 250th company to obtain an LGA online gaming licence to operate but is also the perfect example of how the country would like to see these companies being set up, with 50 per cent of the managers being Maltese.

Mr Fenech explained that in 2002, the government decided to set up a distinct authority and to establish the appropriate regulatory framework required to promote this sector successfully.

“Through the Lotteries and Gaming Authority, Malta combined a sound regulatory structure with a flexible set up that was able to promote our jurisdiction to reputable online gaming industry players. We also took opportunity of the advantages European Union accession gives to Maltese-based and registered online companies to trade right across the European Market, which we now see as our home market,” he said.

He said that online gaming companies have recognised what Malta so uniquely offers, particularly the well-educated, qualified and English-speaking skills of the Maltese labour force, as well as appropriately qualified professionals.

Mr Fenech said the online gaming industry also depended on the network of ancillary and support services that online gaming needed to be effective and viable. Among these he mentioned a critical mass of IT staff, a critical mass of hosters and Internet Service Providers, a critical mass of Payment Service Providers and a sound banking network. “Malta meets every one of these requirements,” he said.

“The government took the policy decision just a few years ago to move Malta into the forefront of the nascent industry of online gaming, and to create a regulatory system such that the companies, and thereby their customers, had the security of knowing they were covered and protected by an internationally recognised regulatory regime.

In the 250th licence, Casino-for-me, I would like to think that we have been proven right 250 times in this decision,” he said.