Maltco invests €44 million
Maltco announced yesterday afternoon during a visit by Minister of Finance, the Economy and Investment Tonio Fenech, that it has invested over €44 million in Maltese economy over the past months with the highest offer being €39,100,000 and will invest a further €5 million to improve the quality of service offered to its customers.
Minister Fenech thanked Maltco for its trust and commitment to Malta and announced that following a competitive tendering process whereby MALTCO satisfied all the technical requirements, Matlco was awarded a 10-year concession and a second licence to operate the National Lotteries. He explained that up to 2012, MALTCO has contributed more than €130 million to the Maltese economy in way of licence fees, lottery duty, unclaimed prizes and taxes.
During the past year, Maltco has undergone a complete overhaul of its existing games portfolio, among which was introducing the game of the Grand Lottery, re-invested in the latest state-of-the art technology and equipment focusing primarily on more operational features such as the digital cameras and the ticket checkers for an investment reaching €5 million.
The European Commission’s Winter Forecast issued a few hours earlier was a confirmation of Malta’s standing-out performance in terms of economic growth and jobs said Minister Fenech with the EU forecasting that Malta will have the second highest growth rate in the euro area at 1.5% with an unemployment rate of 6.4% forecasted for 2013.
“This is why we have to continue ensuring the stability of our finances, invest in the right incentives to attract more FDI and support further local business growth” concluded Minister Fenech.
Maltco CEO Katakis stated that the strategy for the next 10 years was to give optimum service to the players whilst making the games more attractive. MALTCO will continue offering to the people of Malta new exciting gaming experiences, and shall also make annual contributions to the Responsible Gaming Fund.