Bet365 to open new Malta office ahead of Brexit
Operator downplays impact on existing Gibraltar operations, saying it remains committed to the Rock
Bet365 has confirmed plans to open a new office in Malta as the firm prepares for the possible implications of Brexit.
The company issued a statement on Sunday in response to a Times of Malta article claiming it was relocating 1,000 staff from Gibraltar to Malta, saying it was indeed opening a new office, but downplaying the scale of the move.
A spokesperson for bet365 said: “We are taking additional property space and looking to recruit additional personnel in Malta to support our online operations and will also be expanding our infrastructure capabilities there. It should be noted however, that the number of people reported as being relocated to Malta is wholly inaccurate.”
The existing office in Gibraltar has a little over 500 staff.
EGR understands the move is planned to help mitigate the impact of Brexit, with several other firms including 888 and Paddy Power Betfair, making similar preparations.
It is still unknown exactly how many staff will be moved into the new Malta office, although bet365 has reportedly signed a promise of sale agreement worth €70m to acquire a large part of a new property development on the Tigné peninsula in Sliema.
The operator added: “Notwithstanding these plans for Malta, we can confirm that we will be retaining our strong presence in, and commitment to, Gibraltar where our main operational hub is based and will continue to maintain our existing dual regulatory and licensing strategy and presence.”
Bet365 currently holds a sports betting licence issued by the Malta Gaming Authority and also has part of its marketing functions based in Sliema.
Gibraltar’s Minister for Gambling Albert Isola said Gibraltar was confident there would be a positive outcome for Gibraltar companies as the Brexit negotiations progressed.
“We nonetheless understand that business needs certainty and has to manage risk,” he added.
“There is no single risk management solution here as the issues are complex.”
“That is why we are working with operators and with other jurisdictions to establish the best overall regulatory framework in which to do business.”
Isola “They [bet365] are not leaving Gibraltar by any stretch of the imagination.
“Neither are they having to choose between us and Malta.”
“What remains true is that Gibraltar remains the jurisdiction of choice for the most reputable gaming companies in the world. Brexit isn’t going to change that.”
The Gibraltar government recently signed a bilateral agreement with the UK to ensure online gambling operators based on the Rock can continue to provide services freely to the UK market after Brexit comes into force.