Maltco projects positive future post COVID-19 pandemic

CEO Vasileios Kasiotakis shares Maltco’s experience on how it used this crisis to achieve key milestones which will position the company for the future

The Malta Chamber of SMEs held its annual conference on Wednesday 18 November entitled “Acknowledging, Adapting, Looking Ahead”.

Maltco Lotteries CEO Vasileios Kasiotakis, along with local entrepreneurs Gianni Zammit, Matthew Bezzina and Jonathan Pace joined the panel discussion “Taking an active role in fighting the impact of COVID-19” in a joint virtual-physical event.   

During the discussion, Maltco’s CEO talked up about how the company used this unparalleled moment in history by turning challenges into opportunities.

“Our top priority was to protect our people and therefore the immediate reaction was to close our retail network.  However, as the National Lottery operator we have a responsibility towards the government and our agents who did not have any other incoming revenues so initially we had postponed the closure of the shops with a few days.”

The National Lottery operator has been amongst the first organisations to respond to the COVID-19 pandemic outbreak, by supporting all the directives issued by the health authorities and has put into place copious measures aimed to ensure the safety of players, employees and its retailers. The company had announced the suspension of its nationwide retail network on the 18 March and resumed with its operation after a forty-seven day-long shutdown.

Maltco’s CEO commented about the constant support which has been provided to help retailers adapt amid this pandemic, whilst the company has progressed in its mission to raise higher the gaming experience of its players beyond coronavirus.

“We have supported our retailers in order to ensure that they will receive their COVID wage supplement whilst we were working around the clock to strategise our business model and launch an online platform for our lottery products.  Furthermore, we have supported our sports betting products with the implementation of a number of additional product extensions and features. As we have accelerated innovation and the digitisation of our business, we have not only protected our business but also defined a new future of growth and success for all our stakeholders..”

Kasiotakis stated that through the implementation of iLottery, the company is now offering a seamless digital customer experience whilst Maltco’s retailers are already receiving a commission based on their retail sales. “Thus, creating something which is unique and mutually beneficial to players and partners at the same time,” Kasiotakis said.

Maltco’s CEO concluded that he is certain that as responsible citizens but also as employers, employees and entrepreneurs, the community will overcome this unfolding crisis together. “As a company, Maltco projects a positive future with endless opportunities following to the achievement of several exciting launches and key milestones which have positioned the company for the future.”

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