Free VPS Trial, no credit card required
Learn More
NetShop logo

Home

Blog

888 applied for gaming licence in Malta ...

888 applied for gaming licence in Malta due to Brexit

888 applied for gaming licence in Malta due to Brexit

Published on Fri Mar 30 2018

The Gibraltar-based company, home to many of the world’s leading e-gaming and sports betting firms, is concerned about the impact of the UK’s departure from the European Union on the British Overseas Territory.

Around 25% of Gibraltar’s GDP is generated by the gambling industry.

There are fears that an end to freedom of movement could cause problems as many workers actually live across the border in Spain.

“Proceeding with its backup plan” 888 is obtaining a gaming licence in Malta. In order to be able to “continue to serve European markets with no disruption to its business” it also said it is establishing a server farm in Ireland.

888 explained in its 2017 financial statement released last week that “the ability to rely on EU principles underpins 888’s regulatory strategy regarding major EU markets”.

888 said: “The status of Gibraltar as a result of Brexit remains unclear. Recent indications by the EU have suggested that Spain would be granted a veto right with respect to the application to Gibraltar of transitional arrangements agreed with the UK, which increases the risk of a “hard Brexit” for Gibraltar.

“If 888 were to remain registered, licenced 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; furthermore, it may become ineligible to continue to hold regulatory licenses in certain EU jurisdictions.”

As well as operational concerns, 888 also said it fears an adverse effect on the market.

It added: “Brexit may also adversely impact economic and market conditions in the United Kingdom and the rest of Europe.”

Share this article

Recent Posts

Promo: How to Get Cloud & Server Hosting for Free with NetShop ISP

Promo: How to Get Cloud & Server Hosting for Free with NetShop ISP

April 08, 2021

Benefits of Malta VPS Hosting

Benefits of Malta VPS Hosting

April 07, 2021

Is Free Unlimited Hosting Secure?

Is Free Unlimited Hosting Secure?

April 05, 2021

How to Increase the Maximum File Upload Size in WordPress (6 Easy Ways)

How to Increase the Maximum File Upload Size in WordPress (6 Easy Ways)

April 02, 2021

How to choose the best Reseller Web Hosting

How to choose the best Reseller Web Hosting

March 31, 2021