et365 has confirmed that it will retain a licensing along with a “meaningful operational presence” in Gibraltar despite scaling down its business there and relocating much of it to Malta. This will include retaining around 100 of the 500 members of staff it had employed in its Gibraltar offices.
The gaming company said in a statement it will continue its dual regulatory and licensing strategy position between Gibraltar and Malta. This follows the company’s announcement in May that it would increase its operations in Malta with Brexit uncertainty cited as one of the key drivers in its decision.
“As previously stated, it was our intention to maintain a presence in Gibraltar and, subsequent to our previous announcement, we have had constructive ongoing discussions with the Government of Gibraltar,” said a spokesperson for bet365, as reported by Gibraltar Chronicle.
“Following very positive discussions with the Chief Minister of Gibraltar, Fabian Picardo; the Minister for Gambling, Albert Isola; and the Gambling Regulator, we are to maintain our dual regulatory and licensing strategy position between Gibraltar and Malta and can confirm that we will be maintaining a licensing and operational presence in Gibraltar,” the company stated. “This will include retaining around 100 people in our Gibraltar offices. We look forward to continuing our relationship with the Government of Gibraltar and the Gambling Regulator.”
For its part, the Government said it welcomes the news, with the Chief Minister describing the announcement as a demonstration of the work the Government has done to ensure that Brexit does not decimate the economy.