Malta regulator contributes to state coffers again

Malta regulator Lotteries and Gaming Authority (LGA) has posted its 2013 numbers, showing a Euro 49.9 million surplus for state coffers from its licensing activities, a slight increase on its 2012 income of Euro 49.5 million.

The Malta Today newspaper reports that the latest audited accounts of the LGA note Euro 52.7 million in revenues from its activities, with operating expenses at Euro 2.9 million – down from the Euro 3.3 million recorded in 2012.

“These results sustain the importance of the gaming industry for the Maltese economy,” LGA executive chairman Joseph Cuschieri said.

“The authority undergoing a major restructuring, investment and capacity building programme in order to strengthen the operational structures and define a new, future-proof strategy for the authority and for the gaming industry itself.

“This will have the benefit of driving growth for the industry and reposition Malta as the top gaming jurisdiction globally. We have set out an ambitious reformist and growth agenda which we are focused on delivering,” Cuschieri said.

The LGA’s new executive management team is now composed of Ing. Paul Fenech (Chief Officer – Strategy & Business Planning), Dr Dominic Micallef (Chief Officer – Investigations and Enforcement), Vincent Marmara (Chief Regulatory Officer), Dr Edwina Licari (Chief Legal Officer), Heathcliff Farrugia (Chief Operations Officer) and Carlo Mifsud (Chief Financial Officer).

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