5 months ago


Malta Business Review

Malta Business Review GAMING MALTCO LOTTERIES CEO Mr Vasileios Kasiotakis and Operations Director Mr Georgios Kakouras with the ATG Head of International Mr Lars Nemeth during the ICE Exhibition 2018, at Intralot’s Pavilion Maltco Lotteries’ world-class partnership with Sweden’s ATG remains exclusive for Malta. Maltco Lotteries and the Swedish Horse Racing Totalisator Board (ATG) have broadened their exclusive partnership signing an agreement in London during ICE Totally Gaming 2018, which ensures that Maltco Lotteries has sole access to top ATG competitions and races for Maltese betting enthusiasts via their U*BET Horse Racing platform. The extended cooperation agreement enables Maltco Lotteries to satisfy players’ interest in ATG events following the single largest purse won by a Maltco player in Malta, a sum in excess of €2.1M on the last day of 2017 played on the V75 jackpot organised by ATG. ATG’s objective since 1974 has been to create funding for trotting and thoroughbred racing established by the Swedish state, with the aim of guaranteeing long-term financial stability for trotting and thoroughbred racing. Through this partnership Malta has received major interest from Swedish horse-racing breeders, trainers and professionals resulting in a boost to Malta's racing stock from Sweden as well as the input of professional trainers into the local market. ATG's success on the betting market together with partners including Maltco Lotteries, have made a major contribution to the health of horse racing sports. ATG and Maltco Lotteries partnership is the marriage of two leading gaming companies with a strong focus on a meaningful leisure activity by using topquality trotting and thoroughbred racing as the partnership's foundation, applying an innovative and responsible approach to make betting on horse-racing exciting, entertaining and accessible. The partnership between the two companies started with V Bets in November 2007, which were followed by the Single Leg races within the next year. This, enhanced Maltco offerings of live sportsbetting as well as an expanded games portfolio populated by tens of thousands of players requires best-of-breed international content and live feeds that can be enjoyed by all Maltese enthusiasts in all 230 Maltco agents. The refreshed ATG agreement is an important element in Maltco’s sportsbetting offering, regulated by the Malta Gaming Authority. Maltco Lotteries’ CEO; Vasileios Kasiotakis said, "Maltco is delighted to continue offering, exclusively ATG's combination of live sport and live gaming. Especially since the U*BET Horse Racing V BETS which allows the player to predict the winning horses in a number of races seem to become more and more popular amongst the Maltese players.“ MBR For further information email info@maltco. net, visit the Maltco website www.maltco. or call 2388 3000. All rights reserved - Copyright 2018 EDITOR’S Note MALTCO Lotteries offers a comprehensive portfolio of entertaining games of chance and skill based on Responsible Gaming Principles that makes a major contribution to the social and economic development of the Maltese Islands. The company is one of the major contributors towards the Responsible Gaming Fund administered by the Government of Malta. MALTCO operates a comprehensive training programme for agents and their assistants in recognition of their channel partnership. The company supports many good causes and sponsors several local sports. 52

IOD OPEN HOUSE UK Malta Business Review IoD Chairman James Satariano announces that Prime Minister Joseph Muscat will be a keynote speaker at the IoD Open House 2018 in London. IoD Chairman James Satariano Institute of Directors Malta (IoD) Chairman James J. Satariano has announced that Prime Minister Joseph Muscat will be a leading keynote on the main stage during the opening morning of IoD Open House 2018 on March 12 to explore a European response to Brexit, and in his capacity as the political leader of one of the 27 member states poised to vote on the final deal. The speech has been facilitated by longstanding IoD Malta member Joseph Zammit Tabona, the Prime Minister's Special Envoy for Investment Promotion and Chair of the Malta-UK Business Promotion Taskforce. Mr. Zammit Tabona was formerly Malta's High Commissioner to the UK, amongst many distinguished posts. IoD Open House 2018 is an annual convention taking place on12-14 March 2018 for the first time ever at the IoD's historic home at 116 Pall Mall, London. IoD UK is host to a threeday business festival, allowing directors to network and immerse in all matters facing leadership today. Through keynotes, debates, panel discussions and interactive workshops, IoD Open House 2018 explores truly global business, the importance of connectedness and opportunities surrounding diversity and inclusion. Other speakers include Baroness Karren Brady, CBE, Vice-Chairman of West Ham United Football Club and recognised as the first woman in English football. She was Managing Director of Birmingham City from 1993 until 2009 and, during that time, turned the club’s fortunes around; Mike Flewitt, CEO McLaren Automotive, Gemma Godfrey founder and CEO of Moola, Lucie Greene, Worldwide Director of the Innovation Group at J. Walter Thompson, Lindsay Herbert, Digital Transformation Leader at IBM, Josh Graff, VP EMEA at LinkedIn and Professor Sir Nigel Shadbolt, Chairman of The Open Data Institute, amongst a raft of top international speakers lined-up for the 3 days of the event. Mr. Satariano said, "I am delighted that Joseph Zammit Tabona was able to facilitate the Prime Minister's participation as a keynote speaker and I look forward immensely to hearing that speech, Brexit is one of the most important European issues in many years. IoD Malta has held Brexit events since 2016. As our economy grows and becomes more international this is exactly the kind of quality international business exposure our country needs." MBR To find out more about becoming an IoD member kindly contact Honorary Secretary James Arrigo on (+356) 21 247 400 or email: jamesarrigo@ Credit: Ogilvy PR Continued from pg 49 and still good levels of profitability despite low interest rate levels support the banks’ ability to weather adversity. Legacy non-performing loans amounting to 4.6% of total loans in Q2 2017, concentrated in the real estate development sector, have declined due to the buoyant economy, the stronger housing market, and tighter regulatory requirements. Strong demand, driven by rising disposable income and net migration, is fuelling housing price inflation in Malta. Although residential property prices continue to be roughly in line with fundamentals, a continuation of this trend could lead to significant imbalances. However, there are several factors that may lessen the risks emanating from the housing market such as: (1) high levels of home ownership, (2) households’ high financial wealth and liquid assets, and (3) banks’ conservative lending practices and prudent haircuts on collateral values. Moreover, the government has eased some of the constraints on the housing supply side to alleviate the pressures. RATING COMMITTEE SUMMARY The DBRS Sovereign Scorecard generates a result in the AA (high) – AA (low) range. Additional considerations factoring into the Rating Committee decision included: (1) heightened risks to growth and fiscal Ratings Date Issued 2/23/18 2/23/18 2/23/18 2/23/18 Debt Rated Long-Term Foreign Currency - Issuer Rating Long-Term Local Currency - Issuer Rating Short-Term Foreign Currency - Issuer Rating Short-Term Local Currency - Issuer Rating performance due to the small size of the Maltese economy, and (2) potential risks stemming from regulatory or policy harmonisation changes. The main points of the Rating Committee discussion included the fiscal performance, fiscal framework, government guarantees, debt trajectory, political environment, economic performance and structure, and balance of risks to the economic and fiscal outlook. KEY INDICATORS Fiscal Balance (% GDP): 1.1 (2016); 2.1 (2017F); 1.6 (2018F) Gross Debt (% GDP): 57.7 (2016); 53.6 (2017F); 49.1 (2018F) Nominal GDP (EUR billions): 9.9 (2016); 10.8 (2017F); 11.5 (2018F) GDP per Capita (EUR): 22,700 (2016); 24,537 (2017F); 26,369 (2018F) Real GDP growth (%): 5.5 (2016); 7.1 (2017F); 6.2 (2018F) Consumer Price Inflation (%): 0.9 (2016); 1.3 (2017F); 1.6 (2018F) Domestic Credit (% GDP): 269.2 (2016); 262.5 (Sept- 2017) Current Account (% GDP): 6.6 (2016); 9.6 (2017F); Action Upgraded Upgraded Upgraded Upgraded Rating A (high) A (high) R-1 (middle) R-1 (middle) Trend Stb Stb Stb Stb Issued EU EU EU EU 9.8 (2018F) International Investment Position (% GDP): 46.5 (2016); 63.1 (Sept-2017) Gross External Debt (% GDP): 872.4 (2016); 843.5 (Sept-2017) Governance Indicator (percentile rank): 77.4 (2016) Human Development Index: 0.86 (2015) MBR For further information on DBRS historical default rates published by the European Securities and Markets Authority (“ESMA”) in a central repository, see: defaults.xhtml. Ratings assigned by DBRS Ratings Limited are subject to EU and US regulations only. Lead Analyst: Javier Rouillet, Vice President, Global Sovereign Ratings Rating Committee Chair: Chair: Thomas R. Torgerson, Co-Head of Sovereign Ratings, Global Sovereign Ratings Initial Rating Date: 3 April 2015 Last Rating Date: 25 August 2017 Information regarding DBRS ratings, including definitions, policies and methodologies, is available on Creditline: European Operations, DBRS Ratings Limited - 53

Luxembourg Business in the New Digital Economy -
OPENING UP - Jesuits in Malta