Malta’s Economy has New Jersey to thank, in terms of foreign trade and casino trading. Modern day Malta has long been involved within a major aspect of worldwide trading and business, due to its perfectly placed location within the Mediterranean.
Maltese ports for that very reason have always been the highway to trade, and since 1869 merchants have flourished. However due to industrialisation, the ports were less relied upon due to the changeover to digitalisation dependence. Now however, modern day Malta has evolved as a global hub for other reasons. Its rich tourism, history, offer of low corporate tax rates and well developed Tech initiatives.
The gambling industry has found Malta to be of pinnacle importance in particular. Malta has attracted many online and offline casinos to settle permanently, due to the gaming regulations, taxation policies and framework to which will support and stimulate further growth. The 2004 regulations within Malta aligned many new residents and gambling initiatives, with many local residents being employed from overseas to develop headquarters and gambling initiatives permanently. Due to the surge of gaming revenue within the area, 8% of the country’s revenue comes directly from iGaming and offshore businesses such as those in New Jersey. Malta is the very reason why many today can find great mobile casino sites and other gambling opportunities as it truly is the hub of the casino future and present. Look to any gambling initiative, and somehow it will always lead back to Malta.
What is happening outside of Malta is what is truly attracting all the attention and commotion. Online gambling that is established with ties to Malta can exist anywhere remotely and all over the globe. All that matters is that the entity complies with the legal requirements for the countries it wishes to operate in, Malta however is essentially the anchor for its feasibility. So, with the US in this instance, many online casinos will always tie their existence entirely towards Maltese legislation. New Jersey is one of the biggest adopters to recent legislation changes, and therefore has now just recently adopted the ‘Atlantic City’ style casino creations. It has only ever been possible to push the boat out when it comes to gambling now, as law has specifically made space available to do so. In 2020 alone, New Jersey accumulated a revenue of 970 million US dollars, but not only that, a fraction of the revenue went directly to the economy of Malta.
Maltese casinos online and physical, have established themselves in the new seas that New Jersey provides. It was perhaps the most intelligent thing for any iGaming entity to establish themselves in the opening and peak of iGaming within the US and New Jersey in particular. Due to the impressive business innovations and moves that leading Maltese business minds are incorporating across the globe and now in the US, Malta is probably one of the world leading gambling markets at this present time. While so many businesses took a hit in revenue due to the pandemic, Malta grew to greater climbs and spun huge numbers and revenue from the New Jersey gambling high.
Now, it is predicted that the global casino and gambling market will be estimated to almost 100 billion by 2024, and guess what? 10 percent of that entirely goes towards Malta alone. That is how big the small country has a hold of the gambling niche. Having jumped onto the bandwagon from early days, the Maltese Gaming Authority amongst other gambling associations, takes precedence and affiliation for so many iGaming brands out there. With such a strict and strong framework holding casino entities in place, gambling entities envision always having an affiliation with the world’s most secure and trustworthy gambling license. Not only does that win out gambling entities, but rather wins the consumers (gamblers) more than anything. Maltese legislations and legal framework has become such a common mention and entity, that players now question the trust and security of those sites without it. That is the power of today’s Maltese Gambling industry.