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Has The Reckoning Day For Malta’s Most Lucrative Industry Arrived? This Recently-Fired Gaming Employee Doesn’t Think So

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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 companies downsize and lay off more and more employees – Multilotto just recently laid off up to 15 people, more than half their workforce, and it’s only one of many – companies that have been spending a lot over the last couple of years might need to start reigning their costs in with belt-tightening exercises – unless they want to shutter their doors, of course.

“As employees, we had no clue that it would have arrived at this point.”

Philip and his coworkers knew there were new rules and regulations being implemented, but had no idea they would be losing their jobs without warning.
“New regulations, like the Swedish one, negatively affected the industry, but the real problem was within our company. They were not able to deal with the changes,” he said. “It’s mismanagement at its finest. There are other companies that are doing well, plus they were wise to start operating in new markets.”

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.

What do you think of Malta’s gaming industry in 2019?

READ NEXT: Maltese Gaming Company In Hot Water After Ad Reaches People Trying To Quit Gambling

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