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Malta economy and online casinos

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Malta was one of the first countries in the world that recognized the potential of the online casino and iGaming industry in general. Formed in the 1990s, this industry is now worth over $50 Billion and thanks to the early recognition, this small Mediterranean county is now enjoying the benefits that come with this industry. It has a highly positive effect on the country’s economy in so many different ways.

The Malta Gambling Authority was formed way back in the early 2000s and it was part of the country’s strategy for the development of the iGaming industry. Unlike most countries of the time, Malta had a highly affirmative view of this industry from the early beginnings. The MGA was formed in order to issue licenses and support industry development in general. Obviously, the goal was to make this small island one of the best destinations for foreign operators. These days, around 300 global players in the industry are located in Malta.

With such a number of corporations operating in such a small country, there is no doubt that tax collection has had a significant impact on the overall economy. According to some reports, the iGaming industry has a 15% share of the country’s total economic activity. Obviously, that number will continue to grow.

Benefits from iGaming aren’t just displayed in GDP and tax numbers. This industry has also had a big impact on other fields. For example, Malta now has several educational programs specified for the online casino bonus industry.

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The reason is obvious. This is a small country and if we look at the numbers, it turns out that 60% of employees in the industry come from overseas. Only 40% belongs to the domestic share. Obviously, one of the strategies is to change that trend and to increase the share of domestic workers. So, educational institutions have increased the offer of their classes, including numerous ones that target gaps that exist in the industry at the moment.

At this point, it is estimated that there are over 6.000 employees working in this industry and if we can trust experts, operators are currently in need of 3.000 additional workers. So, we may expect further arrivals of foreign workforce.

This leads us to another aspect of the iGaming influence on Malta’s overall economy. For example, with such a big number of abroad workers, it’s easy to conclude that demand for real estate has increased significantly. Workers prefer to rent a property, which has increased the rental prices by a notable percentage. According to some reports, the average property prices have been increased by 10% in the past several years.

Another impact of iGaming on Malta’s economy is the fact that offices of operators also have a positive impact on local businesses, such as service providers, restaurants, coffee shops etc.

In the last couple of years, more and more countries are starting with a similar practice as Malta. However, we don’t believe that this could slow down the growth of the country’s online casino industry and the overall economy. This small Mediterranean island will continue to grow, despite the growing competition. Simply, MGA is still one of the highest-reputable bodies in the business, who issues licenses to operators from all over the world. Simply, gaining these licenses is a matter of prestige, so operators who have gained them proudly advertise is, as a way to attract players from all around the world to register on their website.

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Simply, the years of experience have provided MGA a kind of reputation that most newer regulatory bodies from other countries will hardly be able to reach. This body has set pretty high standards, whether it’s about player protection, fair gaming, operator accountability.

Founded in 2001, the Malta Gaming Authority also pays a lot of attention to the protection of youngsters and other vulnerable groups, and it is a body that ensures the integrity of games and operators, as well as that the industry is free from criminal activities.

Other than MGA, there are just a couple of more regulatory bodies in the world that can be considered as good. Those would be the UK Gambling Commission, as well as similar regulatory bodies from Gibraltar and Curacao. However, Malta still remains in the leading destination, and we have no reason to believe that things could change much in the future.

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Bragg Gaming Group Enteres into New Financing Agreement with Bank of Montreal

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Bragg Gaming Group, a leading global B2B iGaming content and technology provider, announced it has entered into a new financing agreement with the Bank of Montreal (BMO), a leading North American financial institution, pursuant to which BMO has made available to the Company certain credit facilities in a maximum aggregate amount of up to US$6.0 million to support its ongoing working capital and general corporate requirements (the BMO Facilities).

In connection with the closing of the BMO Facilities, Bragg has successfully repaid in full the outstanding promissory note with entities controlled by Doug Fallon (the Prior Note Indebtedness). The new BMO Facilities replace the Prior Note Indebtedness, signalling a significant step in the Company’s financial strategy to partner with a major commercial bank to support its growth.

“We are very pleased to establish this new relationship with the Bank of Montreal, a recognized leader in financial services. This new credit facility strengthens our balance sheet and provides us with a flexible capital structure to execute our strategic plan. The ability to secure financing from a major North American bank underscores the confidence in our business and our long-term growth prospects. We look forward to a long and successful partnership with BMO,” said Robbie Bressler, CFO of Bragg Gaming Group.

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The BMO Facilities are secured by, amongst other things, a first-ranking security interest over all of the assets of the Company and certain of its key operating subsidiaries, and are uncommitted and are repayable upon the earlier of (i) demand by BMO, (ii) the occurrence of certain insolvency events, and (iii) on the one-year anniversary of the closing date, unless a one-year extension is granted at BMO’s discretion.

The agreement includes customary legal and financial covenants, including a requirement for the Company to maintain a Total Funded Debt to EBITDA ratio not exceeding 2.50:1.00, and a Fixed Charge Coverage Ratio of not less than 1.25:1.00. These financial covenants are to be tested on a consolidated basis at the end of each fiscal quarter.

The Company currently expects to draw on the BMO Facilities in Canadian dollars, which would result in estimated borrowing costs of 6.9%–7.9% for Prime-based loans or 5.9%–6.9% for CORRA-based loans, depending on the period of the draw and the Company’s leverage ratio. Standby fees on the unused portion of the revolving facility will range from 0.75% to 1.75% per annum, depending on leverage.

Management believes that based on the terms of the BMO Facilities, the Company’s borrowing costs on an annualized basis will be less than half of its Prior Note Debt.

Matevž Mazij, CEO of Bragg Gaming Group, said: “Securing this BMO facility represents a critical milestone in our strategic plan to strengthen Bragg’s financial foundation and accelerate value creation for our shareholders. With our cybersecurity incident contained and our borrowing costs cut by more than half, we are laser-focused on executing our strategic shift toward higher-quality earnings. The Company is prioritizing margin and cash generation over lower-margin revenue, and synergies realized post-quarter end to become a leaner operation. We’ve already realized EUR 2 million in annualized synergies and are on track to achieve our 20% Adjusted EBITDA margin target for the second half of 2025.

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“Our recent leadership additions in AI and innovation, combined with our expanding partnerships with operators like Fanatics and Hard Rock Digital, position us to pursue highly accretive growth opportunities methodically. The Company remains focused on growing the business in a sustainable and margin-accretive manner, with strong momentum in the proprietary content and technology pipeline positioning Bragg for long-term profitable growth.

“We understand the importance of delivering results for our shareholders, and our board and management team are fully aligned and committed to executing the strategic initiatives that will drive value. With improved financial flexibility, a strengthened operational foundation, and clear milestones ahead, we believe we have the right strategy and team in place to unlock Bragg’s full potential. We remain committed to maximizing shareholder value as we build sustainable, profitable growth and ensure our strong operational performance translates into appropriate market valuation.”

Cyber Breach Update

The Company has also provided an update on its previously announced cybersecurity incident initially detected on August 16, 2025.

Immediately following detection, Bragg took appropriate steps to mitigate any potential impact of the breach. With the assistance of independent cybersecurity experts, the Company has followed industry best practices and considers that the incident is now resolved.

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There continues to be no indication that any personal information was affected and the breach has had no impact on the ability of the Company to continue its operations. Bragg has also provided assurances to its customers regarding the security of its game titles. The Company has experienced no negative impact on its revenue or profitability and does not expect that the cost of responding to the incident will have a material financial impact on the Company.

The Company has already applied knowledge gathered from the investigation of the event to enhance its cyber security defenses.

The post Bragg Gaming Group Enteres into New Financing Agreement with Bank of Montreal appeared first on European Gaming Industry News.

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Thunderkick commits to growth in Ontario with Betty partnership

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Independent slots studio Thunderkick has agreed a deal with Ontario-based operator Betty to supply the rapidly growing online casino with a diverse collection of globally popular titles.

Betty, an official partner of sporting franchises Toronto Maple Leafs and Toronto Raptors, has risen to prominence since its 2022 establishment, when it was built following the consultation of 300 casino players to create the optimal iGaming environment.

Distinguishing itself from North American competitors by catering specifically to slot enthusiasts rather than sports bettors, the operator has curated a portfolio of 2,800 games, hand-picked to deliver customers maximum entertainment value.

Thunderkick’s content is the latest to be integrated into Betty’s online casino, and the agreement will see a selection of its most popular titles, including The Wildos 2, Midas Golden Touch 3, and Esqueleto Explosivo 3, made available to a greater number of Ontarian players.

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Thunderkick marked its debut in the Canadian province in Q2 of 2024, and has since partnered with a network of leading operators to improve its market position. The collaboration with Betty will further amplify its visibility in a key jurisdiction as the provider looks to reinforce its reputation as a global slot developer.

Svante Sahlström, CCO at Thunderkick, said: “It’s our mission at Thunderkick to go deeper, not wider, in 2025. That means forging meaningful, lasting relationships in target markets as opposed to securing as many commercial deals as possible.

“Since entering Ontario over 12 months ago, we have worked tirelessly to enhance our presence in the province, and working with leading brands such as Betty allows us to bring our unique games to a deeper pool of Canadian players.”

Paraskeva Smirnova, Casino Operations Manager at Betty, added: “Betty’s USP has always been our drive to build a slot portfolio with the very best titles from the industry’s most creative suppliers.

“Thunderkick’s passion for slot development is there for all to see, and the introduction of its games to our casino further elevates the consumer experience.”

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The post Thunderkick commits to growth in Ontario with Betty partnership appeared first on Gaming and Gambling Industry in the Americas.

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BCLC

Save the Date: BCLC’s New Horizons in Safer Gambling Conference Returns November 2026

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BCLC is pleased to announce the return of the New Horizons in Safer Gambling Conference, taking place November 2–4, 2026, at the JW Marriott Parq Vancouver.

This global event brings leading voices in research, policy and industry together to explore innovative approaches to safer gambling. Attendees can expect two days of forward-thinking dialogue, evidence-based insights and collaborative solutions to help shape the future of player health.

Sponsorship Opportunities Now Available

New to the 2026 conference, BCLC is excited to offer sponsorship opportunities to organizations that share BCLC’s passion for safer gambling. Benefits of sponsoring New Horizons 2026 include industry visibility, leadership recognition and meaningful engagement with a global audience. To learn more about sponsorship, please e-mail [email protected].

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Registration and program details will be released later this fall.

The post Save the Date: BCLC’s New Horizons in Safer Gambling Conference Returns November 2026 appeared first on Gaming and Gambling Industry in the Americas.

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