The Lotteries and Gaming Authority (LGA) has announced its interim results covering the six months ended 30 June 2014, during a Press Conference held at the Hilton Hotel, on Thursday November 6, 2014.

The LGA announced that the number of licences issued in 2014 went up by 25% to 401 when compared to 321 in 2013. The number of registered companies also went up by 17% to 258 when compared to 220 in 2013, whilst total revenue went up by 1.3% when compared to same period of last year. At the same time license processing time has been reduced by 50%, from an average of 5 months to an average of 2.5 months.

“I am satisfied with what the LGA has achieved so far both in terms of financial and regulatory performance,” said Joseph Cuschieri, Executive Chairman of the Lotteries and Gaming Authority. “Malta is a major player in the global remote gaming industry and our solid reputation was instrumental for our growth trajectory. Having said this, what got us here won’t take us there hence the importance of innovation and reform in order to maintain a competitive edge and stay ahead of other jurisdictions. This, coupled with the support of a business friendly government which strongly believes in the gaming industry, is crucial in our efforts to future proof this industry for the next decade.”

Mr. Cuschieri continued his address by highlighting other initiatives taking place at the LGA, with major focus on the regulatory overhaul which will see the launch of a new innovative and cutting edge legal framework, towards the end of next year. He also underscored the Authority’s office relocation to Smart City Malta, the market repositioning program and also other activities related to the EU and international fora. Finally LGA’s Executive Chairman also highlighted LGA’s latest consultation document on Cloud Solutions, which is available online on www.lga.org.mt.

Dr Herrera was next to address the press, and he spoke about the importance of having a skilled labour force. “We need to be more competitive and have a stronger workforce” he said, and stressed the need for more people to widen their technical knowledge and be employed within the gaming industry. “A survey carried out in 2013 shows that 77% of foreign companies do not find enough Maltese workers that have the necessary skills to work in this sector.” Dr Hererra explained how the launch of the Gaming Academy in the first quarter of next year, is set to be one of the steps taken by the Authority that will help to increase employment rates in Malta in this sector.