As soon as he was fired from the Malta-based gaming company he worked for, Philip* received a call from a competing one asking him to come in for an interview.
As far as he is concerned, any talk of an incoming crash in the Maltese gaming industry is wrong. If any businesses fail, it’s due to individual companies’ management abilities to move with a changing sector… and not the entire sector in general.
“It is more a matter of how companies are capable to adapt to the new regulation changes,” Philip told Lovin Malta. “If the problem was on a larger scale, other companies wouldn’t continue hiring people and growing.”
“As employees, we had no clue that it would have arrived at this point.”
With regards to mismanagement, Philip notes how some companies that grew exponentially were bought out by buyers from totally foreign markets. Sometimes, be it through a lack of local knowledge, a different work philosophy, or different skillset, the new managers may completely change, or ruin, a company.
“It can get chaotic,” he said. Besides that, errors from a purely technical point of view – such as the website going down for days – may have long term effects on customer trust in the system.
Between new regulations, increased competition and smarter customers, companies need to move with the times, even if that means updating month by month.
However, Philip remains confident in the Maltese market.
“If companies don’t manage to adapt they will suffer. Other companies managed and they’re still going strong. The industry is still doing fine, and I know I can find a job in the same industry,” Philip said.
“These instances that happened recently were ultimately management and strategy decisions. If Malta keeps its current regulation and continues to make it better, I cannot see a downfall of the whole sector,” he said.
“The only matter that we should really worry about,” he ended, “is if there will ever be an EU Tax harmonisation law. That is when we should worry.”
*Names have been changed.