Maltco Lotteries CEO Vasileios Kasiotakis has projected a positive future beyond COVID-19 for the lottery thanks to work it has done to mitigate the impact of the pandemic.
Kasiotakis shared how Maltco adapted to the pandemic during the annual Malta Chamber of SMEs Conference, as well as how the lottery used this crisis to achieve key milestones that will position the company for the future.
The lottery CEO took part in a panel ‘Taking an active role in fighting the impact of COVID-19’, a joint virtual-physical event with local entrepreneurs Gianni Zammit, Matthew Bezzina and Jonathan Pace.
During the discussion, Kasiotakis described how the company used the pandemic to turn challenges into opportunities. He said: “Our top priority was to protect our people and therefore the immediate reaction was to close our retail network.
“However, as the National Lottery operator, we have a responsibility towards the government and our agents who did not have any other incoming revenues so initially, we had postponed the closure of the shops for a few days.”
The lottery supported all the directives issued by the health authorities and has put into place copious measures aimed to ensure the safety of players, employees and its retailers. It also announced the suspension of its nationwide retail network on March 18 and resumed its operation after a forty-seven day-long shutdown.
Maltco’s CEO commented about the constant support which has been provided to help retailers adapt amid this pandemic, whilst the company has progressed in its mission to raise higher the gaming experience of its players beyond coronavirus.
He said: “We have supported our retailers in order to ensure that they will receive their COVID wage supplement whilst we were working around the clock to strategise our business model and launch an online platform for our lottery products.
“Furthermore, we have supported our sports betting products with the implementation of a number of additional product extensions and features. As we have accelerated innovation and the digitisation of our business, we have not only protected our business but also defined a new future of growth and success for all our stakeholders.”
Kasiotakis added the implementation of ilottery now allows the lottery to offer a seamless digital customer experience whilst its retailers are already receiving a commission based on their retail sales, creating something mutually beneficial to players and partners at the same time.
The CEO concluded by projecting a positive future for Maltco filled with opportunities following the achievement of several exciting launches and key milestones that have positioned the company well for the future.