The UK-based online betting company bet365 said that it will keep shrinking its presence in Gibraltar.
UK.- Brexit has presented several issues to multiple sectors within the UK, especially because of the uncertainty that comes with it. Gambling companies are not behind this, as they fear that the repercussions of this huge change will negatively affect their operations. This time, bet365 revealed that it will continue shrinking its presence in Gibraltar because of it.
The online gambling company based in the UK said that it will further shrink its presence in Gibraltar as it believes that Brexit has created a “highly uncertain environment,” AFP reports.
As a consequence, bet365 will transfer an undetermined number of jobs to its operational centre in Malta. As a spokesman for the company reported, bet365 is currently consulting with staff about a full relocation to Malta.
The official said that they have built their presence in Malta and operating a dual regulatory and licensing strategy between those two territories for years as part of a strategic and contingency plans to make sure that European market access is still in place and to keep and improve operational efficiencies, Gaming Intelligence detailed.
Furthermore, Prime Minister Joseph Muscat said: We welcome bet365’s announcement on the significant expansion of operations in Malta, where its footprint will now be double that originally envisaged.”