KPMG Malta E-Summit Report Provides New Insight into the Local Gaming Industry
KPMG, the Amsterdam based financial service company, held their 14th e-summit earlier on at the end of last year. The summit was held on the 18th of November 2016 in Malta, as part of the Summit of iGaming Malta (SiGMA 2016). KPMG Malta published a report following the e-Summit that gave a unique insight into the iGaming sector of the country.
Since its inauguration, the KPMG e-Summit has gone from strength to strength. It has evolved into one of the most reputable and sought after events in the global e-Gaming calendar.
Throughout the years, the e-Summit has attracted high caliber speakers from various countries. These speakers have included the likes of C- level executives, industry influencers, government decision makers, and specialists from the online gaming network.
This year’s report specifically targeted gaming operators, service providers, regulators and advisers in the area. The report also featured presentations from stakeholders in the gambling industry. This included the likes of Christian Cardona’ the Minister for the Economy, Investment and Small Business, Joe Cuschieri; the Chairman of the Malta Gaming Authority, and Ivan Filletti, the Head of Operations and Business Development at Gaming Malta.
The details from each of the panel sessions from the industry experts from the event have been included in the report. This included topics such as “Catapulting Malta into the Future,” “Brexit Through the Looking Glass,” “Effort and Ingenuity – The Road to Consolidation,” “M & A and Capital Market Activity from an Operator’s Perspective,” and finally, “Virtual Reality: A Game Changer for eGamers.”
Russell Mifsud, a Senior Manager at KPMG Malta, said at the summit that Malta provides a strong geographic, political and economic hub for all gambling operators.
He said, “Malta is uniquely placed at the heart of world eCommerce and features a stable political environment, compact business community, global transport links and a strong public [and] private sector bond.”
He also added that the ideal positioning of Malta has helped them with their economic growth so far. A large numbers of people working in the gaming sector can now be found in the country. With ongoing improvements to their local provisions, the market is expected to keep expanding over the future years.
Mifsud said, “A continually improving infrastructure and solid telecommunication networks make Malta the natural choice for iGaming start-up businesses; indeed over 8,000 people now work in the sector.”
Mifsud also added that the advent of fast- paced and changing revolutionary technological advancements have led to the inevitable inclusion of other themes of major interest to cover innovative feats and their impact on the iGaming industry.
He continued by saying that the industry is stronger when all those involved work togetheras one.
He said, “It is clear that the industry works best when it works together.”
He then concluded by saying, that no matter the size of an operation, the industry has the ability to help each other achieve success in Malta.
He said, “Whether you are a small operator experiencing challenges at the bank, or an industry giant facing a hit by incoming regulatory change, if we unite to embrace these realities, we’ll achieve more as one cohesive sector.”
KPMG is a professional financial service provider based in Amsterdam, Netherlands. The company is organised in to three service lines. This includes Financial Auditing services, which constitutes to 40 per cent of their work, Advisory services, which makes up another 38 per cent of their business and tax related services, which makes up the final 22 per cent of their work. Their tax and advisory services are further divided into various smaller service groups.
The name KPMG stands for “Klynveld Peat Marwick Goerdeler.” It was chosen when KMG (Klynveld Main Goerdeler) merged with Peat Marwick. The history of the company goes as far back as three centuries and result in the modern day entity after a number of high profile mergers.
Headquartered in Amsterdam, Netherlands, the modern day KPMG is said to have been founded 30 years ago in 1987. They currently employ more than 189,000 people in their various global offices around the world.