Relocation plans reportedly in motion
A Times of Malta report has claimed online gambling operator Bet365 is finalising plans to move its Gibraltar operations to Malta. The Stoke-based operator is expected to relocate around 1,000 employees from its Gibraltar base. If the move goes ahead, it will be a significant boon to Malta’s growing economy.
Albert Isola, Gibraltar’s Minister for Gambling has denied these figures, saying that Bet365 have “confirmed directly to us that they remain totally committed to Gibraltar and the entirety of its workforce here. They are not leaving Gibraltar by any stretch of the imagination.” and that the number of staff the Times of Malta claimed were being relocated from Gibraltar to Malta is “totally inaccurate.”
Mr Isola went on to say, “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.
What remains true is that Gibraltar remains the jurisdiction of choice for the most reputable gaming companies in the world. Brexit isn’t going to change that”
The Sunday Times of Malta also reported that the owners of Bet 365 had signed a promise of sale agreement to obtain a ‘large part of a new property development’ located on the Tigné peninsula in Sliema. The agreement, which is said to be worth in the region of €70m, will serve as the company’s hub of operations once the UK formally leaves the European Union next year.
Following the Brexit vote, Hillside registered a new property management company in Malta last year. Already registering 3 companies in 2014, Hillside (New Media Malta) plc – the operating company of the Bet365 group – received a remote gaming licence from the Malta Gaming Authority in 2015.