The minute we got the news of the insolvency procedures for Genesis Global, GamingMalta was at the forefront spearheading efforts in collaboration with the Ministry of the Economy, EU Funds and Lands, and with other public entities such as DIER and Social Services dealing with employees requests for assistance.” says Ivan Filetti, CEO of Gaming Malta.
In an interview with SiGMA News, Filletti says that Malta’s gaming future is resilient and strong despite the recent collapse of Genesis due to insolvency. He reiterated that the local iGaming ecosystem is robust, vibrant and growing with a strong emphasis on employer branding. Consequently “employee welfare is key” explains Filletti. He notes that “ Betsson this year will be celebrating 60 years of its existence of which the last 20 years have been in Malta”. He also mentioned that casino and sports betting operator Leo Vegas celebrated its tenth anniversary in Malta last year. Both companies trade on the Nasdaq.
Ivan Filletti firmly believes that Malta “is and will remain the epicentre” of the iGaming sector. He added that Malta attracts a number of prestigious iGaming events with SiGMA now recognised to be the major iGaming global event.
GamingMalta assisted former employees of Genesis Global
GamingMalta took on a crucially important role lately when the news broke of the insolvency of Genesis Global Limited last month. Around 150 employees were laid off and Filletti says “the minute we got the news of the involvency procedures, GamingMalta was at the forefront spearheading efforts to support the employees of the company.” GamingMalta in collaboration with the Ministry of Economy, EU Funds and Lands proved to be pivotal in ensuring that employees were supported and assisted through the recruitment process.
HR Connect Forum mobilised a support network
Other public entities such as the Malta Department for Industrial and Employee Relations (DIER) and Social Services also came on board to deal with requests of assistance from the employees. Through the HR Connect Forum, GamingMalta immediately mobilised its network and communicated available vacancies to the affected employees. Filetti says “It was heartening to see the response from the sector and willingness to help albeit many staff were on Christmas vacation. This demonstrated the resilience of the sector and a very supportive ecosystem”.
There are currently more than 700 open vacancies within the iGaming sector in Malta. Filletti says he is “happy to note that many former employees of Genesis Global have already been recruited by various organisations”.
The role of GamingMalta
GamingMalta is an independent non-profit foundation set up by the Government of Malta and the Malta Gaming Authority (MGA). It is tasked with the remit of promoting Malta as a centre of excellence in the digital and remote gaming sector globally. GamingMalta is also responsible for liaising with the local relevant authorities to improve Malta’s attractiveness as a jurisdiction. This enhances the ecosystem surrounding the gaming industry. Filetti says “our north star is home of gaming excellence covering three different gaming verticals – iGaming , video game development and esports.” The Foundation also chairs the newly set up iGaming Council.
Ivan Filetti is the Chief Executive Officer of the Gaming Malta Foundation.
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Genesis Global employees claim compensation – SiGMA News
