Paddy Power Betfair operator exit Gibraltar

29 May 2017

paddy power betfairPaddy Power Betfair Group have decided to end its licence and stop operations in Gibraltar. According to top executives, the reasoning of this decision was based entirely on cutting operating costs.

Nonetheless, many remain sceptical on Paddy Power Betfair's recent exit from Gibraltar and believe that the prime reason for shutting down shop, is attributed to the recent triggering of Article 50. No matter where the truth may lie, the British operator has already decided to relocate their offices in Dublin and London, within the coming month. Furthermore, Paddy Power offices in the Isle of Man have also been shut, a procedure that had started last June.

The Gibraltar government had this to say on the recent Paddy Power Betfair development: "It is clear from our relationships with the industry that Gibraltar remains the premier and first choice jurisdiction for the biggest and best operators in this industry. At present four operators licensed elsewhere in Europe are developing their applications to be licensed and located in Gibraltar. Whatever Brexit may produce for Gibraltar, Government will adapt its licensing and regulatory arrangements to ensure we remain the premier remote gambling jurisdiction."

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