Play to win

The Malta Independent on Sunday - - ENEWS & TECH -

The lo­cal an­nual land­mark gam­ing in­dus­try event is just a few days away and the is­land is buzzing with ac­tiv­ity. Def­i­nitely one of the largest con­trib­u­tors to the Mal­tese econ­omy, the gam­ing in­dus­try is strong and con­tin­ues to grow - but not with­out its chal­lenges. Shortage of hu­man cap­i­tal, in­creas­ing com­pli­ance obli­ga­tions, the evolv­ing tax land­scape and chal­lenges in the cy­ber world are some of the is­sues the gam­ing in­dus­try is cur­rently fac­ing as dereg­u­la­tion and rereg­u­la­tion are hap­pen­ing in a num­ber of ju­ris­dic­tions. Blockchain and its uses, in­clud­ing dig­i­tal cur­ren­cies, grow into a stronger re­al­ity as we speak.

In Malta only this year, the gam­ing reg­u­la­tory regime has been com­pletely re­vamped with ef­fect from 1st Au­gust 2018, GDPR com­pli­ance obli­ga­tions came through at the end of May and the scope of AML obli­ga­tions was ex­tended to cover gam­ing oper­a­tors. Jobs in the gam­ing in­dus­try in­creased by 10% dur­ing 2017 with spe­cialised roles con­tin­u­ing to pose a chal­lenge with the cur­rent avail­able work­force.

The UK gam­ing in­dus­try was re­cently un­der at­tack, in­ter alia, for the high level of prob­lem gam­ing in­di­vid­u­als. This led to the UK Gam­bling Com­mis­sion’s com­mit­ment to strengthen its en­force­ment mech­a­nisms with a re-fo­cus on reg­u­la­tion to put con­sumers first. As a back­drop the un­cer­tainty of Brexit con­tin­ues to per­sist – clearly not an ideal sit­u­a­tion for any busi­ness.

Swe­den adopted its gam­bling bill ‘A rereg­u­lated Gam­bling Mar­ket’ in April this year in­tro­duc­ing li­cens­ing re­quire­ments for the first time, once again with a fo­cus on the lim­i­ta­tion of the neg­a­tive ef­fects on gam­ing and con­sumer pro­tec­tion. The new law is ex­pected to take ef­fect on the 1st Jan­uary 2019. Like­wise, the Dutch and the Swiss are ex­pect­ing new gam­bling laws to come into ef­fect in 2019 as the Ital­ians will, dur­ing the same year, ex­pe­ri­ence a na­tion­wide ban on of any ad­ver­tis­ing of gam­bling ac­tiv­i­ties.

Not all is doom and gloom. At Deloitte we have a pro­found knowl­edge of the gam­ing in­dus­try and fu­ture driven knowl­edge to help gam­ing stake­hold­ers con­quer these chal­lenges ef­fi­ciently. In­no­va­tion is high on our agenda. We see a holis­tic pic­ture of the cur­rent state of play and lever­age on our ex­perts across func­tions and ge­ogra­phies to work with you to­wards holis­tic so­lu­tions across the globe.

Lead­ing ex­perts from across the Deloitte net­work will be speak­ing at fo­cused ses­sions or­gan­ised by Deloitte on the 28th and 29th Novem­ber to ad­dress as­pects of par­tic­u­lar rel­e­vance to the gam­ing in­dus­try. A tax and reg­u­la­tory mas­ter­class will cover as­pects such as the UK GC’s re­newed at­ten­tion to con­sumer pro­tec­tion, the im­pact of an EU dig­i­tal ser­vices tax, op­por­tu­ni­ties aris­ing from VAT group­ing, tax con­sid­er­a­tions aris­ing from the ac­cept­ing of bets and wa­gers in cryp­tos and the pe­cu­liar­i­ties of ser­vic­ing new mar­kets.

Our ex­perts on cy­ber risk will tackle the man­age­ment of cy­ber risk as an es­sen­tial tool for the growth and pro­tec­tion of the value of a busi­ness and will look into how to se­cure a strong, vig­i­lant and re­silient cy­ber risk pro­gram in line with the strate­gic ob­jec­tives and risk ap­petite of the busi­ness.

Our ses­sion tack­ling the skill gap chal­lenge af­fect­ing the re­mote gam­ing in­dus­try in Malta will fo­cus on in­no­va­tive so­lu­tions at the level of strate­gic think­ing as well as the de­ploy­ment of tech­nol­ogy so as to tackle this chal­lenge and you’re in for some awe­some stuff as we ex­plore Deloitte’s lat­est think­ing, prac­ti­cal ap­proaches and tools on re­me­di­at­ing the shortage. This ses­sion, to­gether with the com­po­nent of cy­ber risk are rel­e­vant to in­dus­tries be­yond gam­ing and stake­hold­ers from other sec­tors are wel­come to at­tend. For more in­for­ma­tion, please visit www.deloitte.com/mt

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