In an annual report by one of the world’s most popular online gaming operators & platform providers, 888 Holdings PLC Company, it was stated that they were considering a possibility that post-Brexit, they may have to move their headquarters from Gibraltar to Malta.
In the report, they highlighted the various risks that the European online gaming industry faced. One of them is currently the uncertainty of Brexit as most of their business is presently drawn from the UK. Although they stated they were considering moving their headquarters and license away from the Rock, they will still retain some presence there.
According to the report, it said: “The proposed status of Gibraltar in relation to the United Kingdom as a result of ‘Brexit’ is at present unclear. If 888 were to remain registered, licensed and operating in Gibraltar in these circumstances, its ability to rely on EU freedom of services/establishment principles in supplying its services within the EU will be limited.”
It went on to state: “Brexit could adversely affect economic or market conditions in the United Kingdom, Europe or globally and could contribute to instability in global financial markets, in particular until there is more certainty as to the form that Brexit will take and its effect on Gibraltar, the United Kingdom and the EU. Malta may be considered as an alternative ‘dot com’ licensing jurisdiction.”
There are currently around 30 leading iGaming and sports betting companies regulated and licensed in Gibraltar including BetVictor, Ladbrokes, 32Red, Bet365, Yggdrasil, NetEnt, Bwin and Lottoland to name a few.
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