Sigma - igaming - malta - downhill

Hi,

Since a lot of people of the industry are gathering at Sigma in Malta at the moment I wonder if there are ongoing discussions about the future of Malta as a igaming hub?

As most of the affiliates in Malta will know the national bank, Bank of Valletta (BOV), is closing most (if not all) company accounts that are related to affiliate income and/or holding companies. As far as I'm aware there are no other banks in Malta accepting affiliates.

Bare in mind that the above goes for offically registered Maltese companies that have a Maltese VAT number and established for years. So no dodgy constructions but fully legit companies.

Now Joseph Muscat and his government keep proclaiming that Malta is THE gaming hub of Europe and they try to attract a lot of igaming (and blockchain) businesses to the island. How does this add up to the fact that banking becomes next to impossible for legit companies in Malta?

Wondering what thougts people have and more important... any solutions?

In relation to the above -> https://timesofmalta.com/articles/vi...r-malta.755956

Clue me in here, as an affiliate what is the appeal of basing yourself in Malta?

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Originally Posted by MJM

Clue me in here, as an affiliate what is the appeal of basing yourself in Malta?

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Nothing anymore... those days are long gone...

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Originally Posted by affy

Nothing anymore... those days are long gone...

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Was there any added value back in a day?

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Originally Posted by PokCas

Was there any added value back in a day?

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Yes there was!

Being an EU memberstate with a healthy tax climate (for those who run an official company), offering reliable banking and accounting firms it was a joy to run a company there.

As for private life, the local people were very easy going and friendly, there was a relaxing atmosphere and it was cheap to live with loads of sun.


Of all the good things the only thing left nowadays is the sun...

How was the conference there this year btw? We were thinking of attending next year maybe, we didn't really see the value in doing so up to now. I've heard now it's mostly about new payment options and white labels...people seemed to be a bit disappointed.

Things changed over the last 10+ years in Malta. Some for good, some for bad. Personally - after working in the igaming industry both in Malta, Germany and Gibraltar - I still see some good reasons for me to stay on that island:

Most Casinos i am dealing with are either based in Malta or (at least their affiliate teams) in Tel Aviv, I find it incredibly handy to meet up with them on a regular basis and to be somehow still connected to the operational part of our industry. Besides that you also have a huge amount of affiliates based in Malta, so you always can catch up with someone to discuss several topics while enjoying the sun and a couple of beers. Basically you are living in big big igaming bubble. I would say that more than 50 % of my friends work directly in igaming.

When i was working for a small sporsbook in Germany we struggled so hard to find good and experienced people for diferent roles. In Malta you still have a huge pool of talent - this is imho a completly under rated asset. Good luck with recruiting good book makers, casino managers or responsible gambling officers in countries such as germany or france. However, most jobs in iGaming arent rocket science and the maltese work ethics arent the best either.

Anyways, besides some university programms /Masters in the field of igaming you also have some quite good institutions in Malta to boost your knowledge and skills in iGaming.

But the downsides are quite clear: 10 years ago me and 2 friends were renting a huge 4 bedroom flat with seaview in st Julians for 550 bucks all inclusive. A pint of cisk was somewhere around 1,50 - 2 euro, and the salaries in the igaming world quite competetive. Back then while working in Support i earned around 22 k which was a fortune here. Today the same job would bring maybe 24 k, but the cost of living doubled up.

The political situation is bad, goverment are currently gambling with Maltas status as igaming heaven instead of strengthening malta as the iGaming hub. Instead, we are still selling passport and - if you look at the real estate market - Maltas cultural identity and have politicians involved in bribery, corruption and the murder of a journalist. With more and more markets beeing regulated the MGA licence is loosing it s value. But still, Malta is definatly one of the best places for people in our industry.

With regards to Sigma: I agree, this years show was fun but not the best one. Less operators, more payment solutions and non related businesses such as real estate, scooter rental and other bs. However, for networking it was brilliant. You should visit next year!

Sigma is amazing place and venue. If you do not visit it, you can not udnerstand all the positive and negative points and views.

I'm seeing more and more moving to Spain, Higher taxes sure, but running costs are pretty low and the cities are Huge and lots to do, Sun too ..

guilty of moving to spain from malta.
everyone with a brain i know in the industry has left malta long ago. the country is utterly broken and corrupt from the ground up. you guys have no fricking idea.. some of the **** i have seen while living there for 5 or 6 years is unbelievable...

Sigma was good, Malta was nice but after speaking to people have to say they agree it's gone downhill.

Feedback on Sigma, lots of payment providers and game developers, not a lot of operators there.

Would I go again? Yeh sure as met up with some people and enjoyed it.

SIGMA - Malta was likely the 2nd biggest attended show in IGaming this past year. 10,000 + people.

With so many locals working in Igaming in Malta, I hear only recently that local workers have started to support and attend.
Before it was more for foreigners working in Igaming attending Sigma in Malta.

As noted their was a notable number of exhibitors who were payment providers and/or gaming software suppliers.
To further this list their was several fraud and compliance companies, content providers and even standard operators and affiliates.
White-labeling casinos from a MGA licensed operator/supplier is likely Malta's bread and butter.

About 1 year ago, I heard their were over 1000+ pending new MGA licensee(s).

Not sure where to find information on this however.

Also, many unhappy smaller operators from recent years looking to sell their businesses which show little to no interest from the group of 1500 pending want to be operators. Likely why the white-labeling solutions continue to serve and improve offerings.

Even on the best organized conference, you can go and find some minuses.

The good thing , the best one this year about Sigma 2019, was the 3rd day -crowded agaian and many people just came to drop on by and see.

Why not to be present payments and game suppliers? The industry is growing big and everyone is fighting for its piece of the cake.

It is very sad when "locals" working in the industry do not come and see it. Such events are great possibilities for everyone, who believes that value can be found not only in forums and the "old-way" strategies.

For me, personally Sigma 2020 will be just amazing.

Hi,

As an Operator, I have to agree it was an amazing experience this year. It also allowed me to see many colleagues that I do not see often and strengthen our relationships.

Many of the operators were there but walking the venue. Like my team MyShare partners. "Magical Spin Casino" and Nevada Win-launching soon."

I personally found it to be one of the most productive conferences for my team and made some great new connections. Although I was there meeting with banking solutions providers and other types of providers also. But to have it all under the same roof, Amazing!


Cheers,
Levi

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Originally Posted by Levi

Hi,

As an Operator, I have to agree it was an amazing experience this year. It also allowed me to see many colleagues that I do not see often and strengthen our relationships.

Many of the operators were there but walking the venue. Like my team MyShare partners. "Magical Spin Casino" and Nevada Win-launching soon."

I personally found it to be one of the most productive conferences for my team and made some great new connections. Although I was there meeting with banking solutions providers and other types of providers also. But to have it all under the same roof, Amazing!


Cheers,
Levi

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It was great to see you there Levi :-)