Minister for Gaming said Gibraltar shouldn’t worry about Brexit

Minister for Financial Services and Gaming Albert Isola told local media that Gibraltar-based online gambling operators will remain committed to their operations.

Gibraltar.- Albert Isola Minister for Financial Services and Gaming told the media that Gibraltar-based online gambling operators will remain committed to their operations.

Concerns have been voiced by industry experts that Gibraltar would be the jurisdiction to be the most severely hit by the exit vote and particularly its remote gambling industry.

Gibraltar is a tax haven for online gambling companies as these are levied at 1 percent of their turnover. Now that the UK is out of the EU, operators may face serious challenges in providing their services to Member States, due to the fact that some countries have strict regulations regarding who can operate remote gambling options within their borders.

Minister Isola reassured that he has spoken personally with every single gambling company based in Gibraltar and that they have indicated they would remain fully committed to the local remote gaming industry. Isola also noted that several companies have even pointed out that they are considering expansion, including recruiting staff and leasing new offices. The Minister concluded adding that Gibraltar’s Government will continue working closely with the UK Government to make sure that there will be little or no change at all for those living or traveling to the jurisdiction.