Andrew Lyman, executive director of the Gibraltar government’s Gambling Division, is optimistic about the industry’s future.
Gibraltar.- Andrew Lyman, executive director of the Gibraltar government’s Gambling Division (GGD), has said that the British overseas territory will remain a major hub for gaming following the UK’s exit from the European Union.
Lyman told CasinoBeats that despite remaining uncertainties around Brexit, he was confident that the Rock’s gambling industry will “grow and thrive” due to the territory’s size and flexibility.
He said: “[The Gibraltar gaming industry] has been changing and evolving since 2014 and has sustained despite legal changes in the UK and elsewhere.”
He added: “Gibraltar is not going to reduce its attractiveness to business whilst at the same time remaining a jurisdiction which commands international respect and full UK support.
“It also wants to continue to build a close relationship with the EU. I am very optimistic for the future.”
The issue of Gibraltar’s relationship with Europe was a continual point of contention during the UK’s Brexit negotiations.
The self-governing overseas territory, which is the home to many gaming and sports betting operators, was the subject of an 11th hour deal between Britain and Spain which could see it join the 26-country Schengen Area. That would allow for the unrestricted movement of people.
Lyman said this would be a “win-win” for both Gibraltar and Spain since 15,000 people live in Spain but work in Gibraltar.
Last month, Gibraltar gaming operators collectively agreed to pay £2.5m to the Gibraltar Gambling Care Foundation after being wrapped by the Gibraltar Gambling Division for historic weaknesses in anti-money laundering controls.