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Bet365 migrate Gibraltar operations to Malta amid Breit fears

Online gambling powerhouse bet365 has announced plans to move the majority of their operations in Gibraltar to Malta to help mitigate the impact of Brexit.

The move is estimated to cost around €70 million, and the main part of it means the expected relocation of 500 staff members. All of them, including 20 Gibraltarians, were informed about the situation on Thursday and have been offered redundancy or the option of moving to Malta.

In its update, bet365 management underlines that its decision was “driven primarily by the continuing Brexit landscape”, and that it will maintain a presence within Gibraltar.

Bet365 holds both Gibraltar (GGC) and Malta (MGA) licences, but the move comes just four years after the company opted to make Gibraltar its main licensing hub. Bet365 is considered to be one of the biggest employers in Gibraltar.

However, the announcement was widely anticipated and had been flagged in May 2018 by the company, which said at the time that it was expanding its Malta presence as part of contingency planning for Brexit.

The announcement was welcomed by Malta’s Prime Minister Joseph Muscat.

“We welcome @bet365 announcement on the significant expansion of operations in #Malta, where its footprint will now be double that originally envisaged,” tweeted Prime Minister Muscat.

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