Issue link: https://maltatoday.uberflip.com/i/254848
12 BUSINESS & FINANCE maltatoday, WEDNESDAY, 5 FEBRUARY 2014 Online gambling hub convenes in London this week The global gambling industry gath- ers in London this week for the an- nual ICE gaming conference. It should be a happy affair, with gross winnings (total take minus payouts, excluding expenses) of around $440 billion last year. Australians gamble (and lose) more than anyone else on a per- person basis, according to H2 Gambling Capital (H2GC), a British consultancy. The biggest chunk of this is spent on video poker machines, though tighter regulation in recent years has seen the country fall to sixth place in absolute terms. In Singapore casino gambling is favoured while Finns seem to prefer interactive gaming. (Macau does not feature in the rankings because its gambling revenue comes almost completely from tourists, largely from mainland China). America remains the world's biggest market, but its global share has fallen from nearly a third to a quarter in the past decade. This is partly because of a ban on most interactive gambling (sports betting and other games played on mobile phones, computers or interactive TV). Over the same period, China has risen from the tenth-biggest market to the second-largest, with losses of $76 billion. Simon Holliday of H2GC expects China to become the world's biggest market by 2020. Download the MaltaToday App now Air Malta launches 25% discount on Germany and Austria flights Air Malta flights to Germany and Austria have been reduced in price by 25% as part of a promotional cam- paign which will last until Sunday, 9 February. The offer is available on the airline's routes of Frankfurt, Munich, Dusseldorf, Hamburg, Berlin and Vienna and tickets purchased through this offer are valid for travel until 31 March 2014. In a statement issued by the airline, it said that the company "maintains its commitment in offering value for money and superior service in both its economy as well as business class cabins". The airline continues to offer free allowance of one 10kg hand luggage and a pool-able 20kgs free baggage allowance to its economy class passengers. Club Class passengers are given an allowance of two pieces of hand luggage for a total weight of 15kgs plus 30kgs baggage allowance. For more information log on to: http://www.airmalta.com/ The Vienna State Opera House Facebook marks 10 years since humble beginning In its first decade – celebrated yes- terday – Facebook has garnered users from all over the globe keen to communicate with friends, post updates and share photographs. The social network – which was established by Mark Zuckerberg while at Harvard University – has grown to become a multi-billion dollar company. Last week the company reported record revenues of $2.5 billion (€1.85 billion) from 750 million daily users. But the birthday celebrations come amid uncertainty from analysts over the future of the social network. Markos Zachariadis, an assistant professor at the Warwick Business School, has researched the company and innovation in social networks. He said Facebook could be in danger of being overtaken by other online networks. "It is the largest social network in the world, but many are questioning whether it will survive another 10 years," Zachariadis said. "Another innovation and network may come along to threaten its dominant position in the market. But Facebook is in a good position to expand and grow further, thus creating a strong 'network effect' and adding new services to keep users engaged." Facebook founder Mark Zuckerberg