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21st May 2018, 00:14

bet365 to expand in Malta but retain main operational hub in Gibraltar

Published by GBC News

One of the world's leading online gambling groups, bet365, has confirmed plans to expand its presence in Malta... while retaining its main operational hub in Gibraltar.

Following an article in the Times of Malta, the group said the number of people reported as being relocated to Malta – one thousand – is wholly inaccurate. A spokesperson for bet365 said the investment in Malta was: “Due to regulatory developments in various jurisdictions and the evolving global regulatory environment for online betting and gaming”. The group will be taking additional property space, expanding its infrastructure and looking to recruit additional personnel in Malta to support its online operations.

Bet365 says it will, nevertheless, retain its strong presence in, and commitment to, Gibraltar.

Gibraltar Government: bet365 committed to entirety of workforce locally

For its part, the Gibraltar Government says bet365 has confirmed directly to it that the group remains totally committed to the entirety of its workforce locally.

Gibraltar's Minister for Gambling, Albert Isola said: they are not leaving Gibraltar, by any stretch of the imagination. He said Gibraltar remains the jurisdiction of choice for the most reputable gaming companies in the world and Brexit isn't going to change that.

Mr Isola said "We have a high degree of confidence that there will be positive outcome for Gibraltar companies as the Brexit negotiations progress. We nonetheless understand that business needs certainty and has to manage risk. There is no single risk management solution here as the issues are complex. That is why we are working with operators and with other jurisdictions to establish the best overall regulatory framework in which to do business.”

“Bet365 have confirmed directly to us that they remain totally committed to Gibraltar and the entirety of it's workforce here. They are not leaving Gibraltar by any stretch of the imagination. Neither are they having to choose between us and Malta.”