The British online gaming operator Bet365 Group Ltd has confirmed that it is to relocate its operations from Gibraltar to Malta, due to Brexit indecisiveness. A lot of companies are withdrawing their operations from the UK or British territories as Brexit has caused uncertainty for a huge amount of businesses.
As a Bet365 spokesperson said that the company continues to operate in a “highly uncertain environment, driven primarily by the continuing Brexit landscape”, and this had a major impact on its decision to expand in Malta. For years, Bet365 has operated with a dual regulatory and licensing strategy position between Malta and Gibraltar.
According to a statement Bet365 made, it said:
“As part of our strategic and contingency plans to ensure EU market access and to maintain and enhance operational efficiencies, we have been building our presence in Malta and operating a dual regulatory and licensing strategy between Gibraltar and Malta for a number of years.”
“However, from an operational and technical perspective and given our operating model, it has become increasingly challenging to efficiently run such multi-site operations and this has necessarily resulted in us conducting a review of our operations.”
“We also continue to operate in a highly uncertain environment, driven primarily by the continuing Brexit landscape. Therefore, to assist with business planning and in order to maintain operational effectiveness, we intend to enhance our Maltese operational hub and relocate certain functionality there.”
“We are now consulting with staff in relation to such relocation. It is intended to maintain a presence in Gibraltar and the final rationalisation will be determined after we have completed our staff consultation.”
As a result of Brexit, other operators such as William Hill and Paddy Power have also removed their operations from Gibraltar.