€48 million in online gaming revenues registered in 2013

The Lotteries & Gaming Authority (LGA) registered a €49.9 million surplus during operations in 2013, equivalent to its €49.5 million registered in 2012.

The LGA, which published its audited statements this week, said it had registered €52.7m in revenues, compared to an expenditure of €2.9m, compared to €3.3m in 2012.

The amount of €48.8 million was transferred to the government’s coffers, compared to €47.5m in the previous year.

“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).

“This is an excellent group of talented and professional individuals who possess strong academic backgrounds and work experience whom I am convinced can help me steer the LGA towards more future success,” Cuschieri said.