LGA Annual Report and Financial Statements

The Malta Lotteries and Gaming Authority has released their Annual Report and Financial Statements for 2010. At the same time, the LGA has also released a new Fact Sheets document, subtitled Investing in Malta…Brings The Odds To Your Favour.

The Financial Statements 2010 document shows that the LGA is a healthy and prosperous entity that is providing a valuable contribution to the country, with total operating revenue generated amounting to almost 50m Euro. From this sum the Authority’s expenditure was only around 2.5m Euro, leaving almost 47m Euro being transferred to the Government of Malta, a more than 10% increase on the previous year.

Inside the annual report the Chairman of the LGA tells us that there have been 63 new licences issued from 119 applications received. This brings the total of active licences in Malta to 388 with 262 operators, employing around 9,000 people in the industry. They’re patting their own backs a lot in this document, but to be fair the LGA has done a fine job of setting up a trusted and well regulated environment for online gaming companies to operate in. Moving forward the LGA is planning to redesign the licence application process. This should be very welcome, since the current method is overly time-consuming and could be more efficient.

Finally, the Fact Sheets provides all the high-level information to get you started on setting up your online gaming operation in Malta.

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