Casino Malta in St Julian's has been issued a licence by the Malta Gaming Authority.
Malta's fourth casino, owned by the Eden Leisure Group, is the largest on the island and has come at an investment of €12m, according to the Times of Malta.
European casino owner and operator Olympic Entertainment Group (OEG) will be overseeing the casino.
As well as gaming, casino-goers will have the option of listening to regular live music events or settling down in the lounge area.
Owners Ian and Kevin De Cesare said: "We are lucky to have great operator partners in our businesses from Olympic Entertainment to our hotel operators InterContinental Hotel Group.
"Together we will ensure that the industry is grown rather than cannibalised from other operators."
"The synergies of significant hotel accommodation, an existing entertainment business and great partners is, what we hope is a tremendous winning formula.”
The casino has hired 175 full time staff, some of whom have been training for several months in Malta and in other casinos owned by OEG.