Malta has been making the headlines recently because of the plans related to the expansion of its online gambling sector, which already plays a key role in country’s economy.
However, one more land-based casino will be added to the already existing ones on the territory of Malta.
According to the latest information Olympic Entertainment Group is going to enter the Maltese gambling market. An upper-class casino venue is to be established in a region, which is an attractive tourist destination.
Actually, the casino project will be a result of the joint venture of Eden Leisure Group and Olympic Entertainment Group. Once the casino is completely finished, a management agreement will be signed and OEG will be in charge of running the venue and consolidating its positions of the Maltese gambling sector.
The mega-project is to be completed towards the end of the year and OEG will invest €7 million into the foundation of the luxurious venue. More than 250 slot machines, 30 table games, sports betting will be available. The name of the venue will be Casino Malta by Olympic Casino and it will spread over 2,700 square meters. The casino is to be located at the InterContinental Hotel Malta.
Apart from offering exciting gambling opportunities, the new casino will also provide Maltese residents with job opportunities. Workers will be needed during the construction procedure and once the venue opens doors for players, a considerable number of employees have to be hired.
Needless to say, the location of the new casino has not been randomly selected. The InterContinental Hotel is a really frequently visited one. Actually, it is almost fully occupied during the spring and summer months.
In other words, Maltese officials count on the new casino to attract more tourists. The percentage of people who visit Malta for business conferences or meetings and meanwhile come over to play casino games for a while, is also expected to increase.
As for the tourism sector itself, it is believed to become a thriving one in three years time. The capital of Malta – La Valletta, has all chances of becoming the European Capital of Culture in 2018. At the same time, Malta will be holding the Presidency of the European Union.
Apart from the tourists, willing to participate in gambling activities, a decent number of Maltese residents are keen on going to casinos on regular basis. There is one huge setback, though.
While foreigners are allowed to participate in gambling activities at the age of 18, Maltese citizens are prohibited from entering casino premises before they turn 25. People with considerable knowledge on the matter, say that Maltese gambling regulators would not consider a change in the existing regulations.
