Brexit Issues Not Resolved For Online Gambling Operators

Published Tuesday, March 05, 2019 - Online-Casinos.com
Brexit Issues Not Resolved For Online Gambling Operators
Brexit has a lot to do with the uncertain current climate in the online betting industry as jurisdictions such as Ireland and Gibraltar struggle to be prepared for the divorce between the United Kingdom and the rest of continental Europe. The creation of a deal that gives everyone security in their business dealings seems unlikely as the British government strives to simplify the complex process of leaving the economic connections intact. Spain has its position and it appears to be stuck in the stubborn mode accepting no concessions from the British territory of Gibraltar. Gambling operators moved their businesses to the disputed Gibraltar jurisdiction to take advantage of the tax laws and make more money. The Spanish government is fighting to regain the jurisdiction and take back what they feel is still their land. GVC Holdings Plc and William Hill Plc have in excess of 1,400 employees in Gibraltar. Many commute from the Spain and they say there is a threat that Brexit will choke the border. This threat alone has forced them to invest in improved technology and find ways for employees to fill in for colleagues unable get through the border. GVC Holdings recently announced it will move servers hosting its online gambling platforms to Ireland and bring parts of the business with EU customers under Malta online gambling licenses. GVC’s online gambling headquarters will remain in Gibraltar. Moving forward before the Brexit deadline the two firms have adjusted overseas operations to ensure they can still operate in the EU if Britain leaves its single market for services. The new regulatory conditions in the U.K. proposed by the UKGC regarding problem gambling have made the E.U. jurisdictions a vital component of a growth strategy for international operators. The hard border that is possible with Ireland is also one of the stumbling blocks for the current British Prime Minister with trade issues created by the impending exit from the European Union.

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