Malta’s gambling regulators are planning big changes to maintain the country’s role as a desirable hub for online gambling operators, including a national sports betting exchange to allow operators to hedge their bets.

Last Thursday, Malta Gaming Authority (MGA) chairman Joseph Cuschieri delivered a speech to attendees at a conference organized by Malta’s financial affairs parliamentary committee at which he revealed the MGA’s plans to leverage Malta’s remote gaming advantage.

Cuschieri started by underscoring the importance of Malta’s gaming industry to the overall economy. Gaming contributed €56.3m in direct taxes to the government’s 2016 budget, while gaming-related activity brought the total contribution to around €120m. Around 3k Maltese nationals currently earn their livelihood via the local gaming industry.

But Cuschieri warned that the MGA needed to be proactive “to avert the threats and reap opportunities at a global level.” The MGA has therefore developed a strategy to “future proof” the industry based around three main tenets.