Paddy Power Betfair leaves Gibraltar

The online gambling operator announced that the company will stop its operations in Gibraltar.

Gibraltar.- Paddy Power Betfair revealed that it will stop its operations in Gibraltar and surrender its local license as the company is getting ready to close the office and relocate all of its employees in other destinations.

As GBC reported, a spokesperson for Paddy Power Betfair said that the employees will be relocated in Dublin and London. The decision comes after an operational review that was conducted by the company after the merger between Betfair and Paddy Power. The study established that the mother company should focus its operations in a smaller environment, therefore the Isle of Man and the Gibraltar offices had to close. “We wish the group well and will be happy to assist them in the future should they want to be licensed in Gibraltar again,” said the government.

“It is clear from our relationships with the industry that Gibraltar remains the premier and first choice jurisdiction for the biggest and best operators in this industry. At present four operators licensed elsewhere in Europe are developing their applications to be licensed and located in Gibraltar. Whatever Brexit may produce for Gibraltar, Government will adapt its licensing and regulatory arrangements to ensure we remain the premier remote gambling jurisdiction,” they added.