James Scicluna, Co-Managing Partner at WH Partners, discusses the Maltese government's stance on AI incentives and how to become the best lawyer in gaming on SiGMA TV's Executive Series
SiGMA TV sits with Co-Managing Partner at WH Partners, James Scicluna, for an exclusive interview on SiGMA TV's Executive Series to discuss whether he believes the Maltese government is on track with artificial intelligence (AI) incentives and advice for prospective lawyers looking to specialise in gaming. Malta, the destination for SiGMA Europe 2021, is currently one of the largest online gambling jurisdictions and a popular location for gambling sites to seek licensing.
James is a transactional lawyer advising clients in regulated industries including in the gaming and gambling, sports, fintech, financial services, leisure and hospitality industries. James is ranked as one of the leading gaming and gambling lawyers globally by Chambers & Partners.
Recognised by all international directories as a leading law firm in the industry, not only locally but also globally, WH Partners has in-depth knowledge of the market and pan-European expertise on all matters related to the gaming and gambling industry, online and offline.
While he is unsure if the Maltese government is on track with AI incentives, Scicluna feels strongly about opening the door to incentivising Maltese investors.
I think when it comes to AI, it's very hard to see the development of an infrastructure to support R&D related to AI if you don't have the right incentives.
The Maltese government promised that by 2021 they would achieve strong results when it comes to AI; despite uncertainty, Scicluna (pictured above at the SiGMA iGAMING Conference 2019) believes that Malta has the right ecosystem and financial backing to flourish. However, he contends that AI incentives in Malta would flourish by adopting a different model of incentivising private investment.
He uses the Israel as an example where the government gets involved very directly in venture capital type projects with a government-run fund that invests and then takes equity in young and promising talent not only in AI, but in a range of early stage startups and early stage businesses. In reference to this model, Scicluna shares:
I don't know that [sic] Malta is at that stage yet where that could be done but incentivising private investment is definitely something that can and should be done.
Speaking on the topic of incentivising local investors in AI, Scicluna contends that this would provide them with a "tax advantage". He adds that "Malta's tax ecosystem tends to favour people who come here from outside and bring business".
A strong education system is something Sciculna feels should take center stage if Malta is to keep up with it's growing economy.
While no easy feat, Sciculna firmly believes the Maltese economy needs to invest further in educational programs. He states: "I don't think that there is anybody who questions the need for Malta to continue to facilitate [...] the importance of skilled people to contribute to the economy".
One of the biggest issues Malta has, and it is not something that can be resolved very easily, is its small and its population.
With a growing economy requiring a greater supply of skilled workforce, there's only so many people you can get through the education system.
Scicluna also offers advice to aspiring lawyers looking to specialise in the exciting and flourishing gaming industry.
He shares:
[...] commit to it, read a lot. Read both the law and its interpretation, and also read about the industry. Try to get exposure in terms of understanding how the industry works because you cannot look at the law in isolation,
He also contends that "the ability to mix the knowledge of the law with the knowledge of a particular area of industry really makes the distinction between a decent and a very good lawyer".
WATCH the full interview below:
About SiGMA Magazine:
SiGMA Magazine, is a bi annual publication shedding light on the remote gaming industry. The publication provides a 360 degree spotlight about gaming and betting, covering topics related to regulatory issues, operators, affiliates as well as SEO trends and more and is distributed by post to leading gaming and business companies worldwide. The publication is also hand delivered across businesses in Malta and at several leading conferences. If you want your brand to feature in SiGMA Magazine or wish to contribute with quality content, get in touch.
