Following merger
UK bookie shuts down Gibraltar office
Paddy Power Betfair is to close its office in Gibraltar and relocate elsewhere. A spokesperson said that after the merger, they bookmaker has been reviewing arrangements with the aim of simplifying and centralizing operations.
2017-05-29
Reading time 30 seg
Paddy Power Betfair is to close its office in Gibraltar and relocate elsewhere. A spokesperson said that after the merger, they bookmaker has been reviewing arrangements with the aim of simplifying and centralizing operations.
As a result, the decision was taken to close the Gibraltar office and relocate its functions.
The company said all employees will be offered relocation opportunities. Although they declined to disclose the exact number, it is estimated they employ around 20 people in Gibraltar.
Paddy Power and Betfair merged in February 2016 with Paddy Power shareholders retaining 52 percent of the business and Betfair shareholders retaining 48 percent. The Group has offices in the UK, Ireland, Portugal, Romania, Malta and Italy. It has not been confirmed at this stage which functions will be relocated to which offices.
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