Malta: Issuance of fifth casino license under consideration

imagesource:rediff
imagesource:rediff

Malta is contemplating the issuing of fifth casino license on its gambling properties.

Malta’s 122-square-mile territory hosts the Casino Malta, the Dragonara Casino, Oracle Casino and Portomaso Casino. The government is planning to have a fifth gambling property very soon.

Request for proposals (RFP) for a new casino is underway; however, the suitors have been cautioned to expect few restrictions.

As per CalvinAyre.com’s report, the PU explains on its website, “The Privatisation Unit, acting on behalf of the Ministry for the Economy and Industry​, is hereby inviting Prospective Proponents to submit Proposals for the opening and operation of a casino in Malta. Prospective Proponents are reminded that for the opening and operation of a casino in Malta, the Successful Proponent must, in addition to holding the Concession, also hold a valid Casino Licence issued by the Authority in terms of the Gaming Authorisations Regulations.”

The CalvinAyre.com’s report stated “the company chosen as the licensee will need to prove that it can cover the costs, which include a concession fee of €11 million ($13.2 million). The good news is that the fee can be stretched out over three years. The requirement that the casino offer 225 gaming devices and 15 gaming tables should help offset that investment.”