There has been so much of up and down in the casino industry in last few months and with the last month’s historic outcome of United Kingdom wide referendum there was a lot of speculation in the casino industry however things have settled down now. Remote gambling and online operators based in Gibraltar showed their commitment to their homes in the British Overseas Territory and this is even despite of the last month’s historic United Kingdom wide referendum outcome on its membership with the European Union.
Gibraltar is home to more than 30 major online gambling companies/providers which include few popular names like Bwin.Party, William Hill and Ladbrokes and June 24 poll saw its 32,000 residents voting to remain the member of the 28 state trading bloc. However, the poll for the United Kingdom as a whole resulted in 51.9% majority exciting the Europe-wide single market and this move known as Brexit. This could eventually make the remote operators face lot of serious challenges in offering their services to players in other European Union member states such as Germany, France and Ireland.
As per Albert Isola, Financial Services and Gaming Minister for Gibraltar, operators are committed to local remote gaming industry with many even considering expansion which means recruitment of additional staff as well as leasing of new offices.
“Her Majesty’s Government Of Gibraltar has been working closely with the remote gambling industry in Gibraltar following the “Brexit” vote…and is pleased to confirm that the sector remains strongly committed to its Gibraltar operations,” read the statement from Isola. “Government has engaged with every operator in Gibraltar as well as with the Gibraltar Gaming And Betting Association to assure them of our support and vision for this sector in the short, medium and long term. This has been universally welcomed and operators have made it clear to us that they remain fully committed to Gibraltar and business continues as usual.”
Isola additionally said that “the draft version of the jurisdiction’s Gambling Act Review, which was published earlier this year, remains in its consultation stage and will definitely be proceeded with and further expanded” so as to ensure the territory’s regulatory, licensing and tax regimes “remain fit for purpose having regard to any new arrangements that Gibraltar may enjoy in the future”.
“While this Government and others believed that staying in the European Union is the better choice for economic development and growth, any move away from the European Union will provide new and different opportunities for our economy and we will ensure these are available to all our commercial sectors and Gibraltar remains a great place to locate a business,” read the statement from Isola.