Lots of changes will be happening within the next few months for the colossal betting operator, Bet365. They are ready to move their business from Gibraltar to Malta, as a result of the upcoming Brexit. It should be reminded that the United Kingdom will finally exit the European Union next year.
As it was revealed by the local press in Malta, the betting operator signed a promise of sale agreement, in a value of 70 million euros, will remove its operations in Sliema, a Maltese town with the change is going to take effect immediately after the United Kingdom will formally exit the European Union, within less than a year from now, in the 30th of March 2019 to be precise. The good news is that more than one thousand employees will be relocated from Gibraltar to the new Maltese offices. For sure, Gibraltar’s economy will take a huge blow, while on the other hand, Malta’s will be granted another significant boost.
Bet365 is one of the greatest bookmakers around the world and also one of the most profitable United Kingdom gambling operators. They were granted a license from the Maltese jurisdiction, while they also registered a new property management company within the territory last year, in order to establish their presence in the country. The news, in general, do not seem to be good for the Gibraltar government, despite the promise they made some months ago when the latter assured the citizens and the press that local companies would retain access to the UK market in a post-Brexit economy, at least until 2020.