Bet365 expands operations in Malta due to Brexit
The gambling and sports betting operator Bet365 has confirmed in recent months that it has approved a project to increase its operations in the city of Malta. This is due to the concern generated in the company by the negative impact that Brexit could have on its business due to the possible departure of the UK Gambling Commission once the decoupling between the British and the European Union is finalized.
Brexit may damage the gambling economy in the UK. Malta comes out stronger. ©PixaBay/Stux
The operator Bet365 has been operating with licenses from both the Malta Gaming Authority as from the UK Gambling Commission. But it is that after three years of uncertainty about the future direction that the British take regarding their position in the European Union, the gambling operator has decided to favor Malta. There are still many questions to be answered, because if the Brexit is finalized, the position of Gibraltar is not clear, which does not cease to be an overseas territory .
Malta begins to gain a privileged place thanks to Brexit
The operator has issued a statement saying that:
“From an operational and technical perspective, and given our operating model, it has become increasingly difficult to run multi-site operations efficiently which leads us to review our operations. To help with business planning and thus maintain the effectiveness of our operations, we intend to improve our Maltese operational center and relocate some functionality there. We are now consulting with staff in relation to such a relocation. It is intended to maintain a presence in Gibraltar and the final rationalisation will be determined once we have completed our consultation with staff.” – MGA Malta Gaming Authority.
According to a company spokesman, both this operator and many other brands dedicated to iGaming in Europe, are working with “great uncertainty due to the lack of security regarding Brexit and its future.” This is the main reason why they have decided to focus their efforts on Malta where one of the most important gaming authorities in the world is located.
The case of Bet365 would not be the only one in Europe, being that the betting giant William Hill would also be considering expanding its business on the Mediterranean island before something worse happens in relation to the implementation or not of Brexit.
It is clear that the referendum held by the British in 2016 has generated more damage than solutions without even being in a position to resolve their departure or stay.
What will happen to Brexit and British operators?
Still on edge, the English parliament has shown signs in the last three years of being unable to solve something that they promised at the time and that the citizens approved through the democratic vote. According to experts, it would be very difficult to analyze for sure how much money and profits poured from profitable businesses the British have lost due to the uncertainties generated by the lethargy of Brexit. Is that the UK's exit from the European Union nor would it be viewed favourably by a large majority in England, Wales, Scotland and Northern Ireland .
Based on these insecurities, there are still politicians and specialists in the field who assure that Brexit could never happen. In such a case, the British would have to pay an astronomical fine that would not end up damaging their coffers but surely their pride. What is clear in this situation is that the boards of directors of the operators Bet365 and William Hill are not standing idly by and taking cards in the matter in order not to lose opportunities for growth.
At the end of the year a resolution to the conflict is expected where the British will have to leave the European Union with a precise plan taking great care of their citizens on European territory or pay a large fine to Brussels. What is clear from all this is that Gibraltar is starting to lose strength and Malta is growing, strengthening its position in the iGaming world more than ever.
