At the same time, the UK company, which currently has its operations hub in Gibraltar, said that it will still keep a “strong presence” in the United Kingdom enclave, even though it declined to say if Malta will start acting as its new operations hub after Brexit.
In a statement issued on Monday, Bet365 said that following the report by The Sunday Times of Malta, it “confirms plans to expand its presence in Malta”.
“Due to regulatory developments in various jurisdictions and the evolving global regulatory environment for online betting and gaming, we have decided to increase our existing presence in Malta, which provides a mature and robust regulatory environment for the industry.”
United Kingdom fears an exodus of betting companies due to Brexit
The company also confirmed that it has also acquired new property in Malta but did not say where.
“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 infrastructural capabilities on the island.”
The Sunday Times of Malta had said that Bet365 – the largest sports betting company in the world – has decided to move most of its operations to Malta from Gibraltar due to the UK’s exit from the European Union.
The newspaper reported sources saying some 1,000 personnel were expected to be relocated to the island and that the company had already entered into a promise of sale agreement to acquire part of a massive development currently taking place in Tigné, Sliema.
According to Bet365, the number of people to be relocated to Malta was “wholly inaccurate”.
Asked on Monday to say how many people will be working for Bet365 in Malta and if the number of people it currently employs in Gibraltar will remain the same, a spokesman for the company declined to reply.
The Times of Malta is informed that a number of Bet365 employees currently operating from Gibraltar have already been offered positions in Malta and told that the company will be relocating most of its operations after Brexit.
News of the transfer of Bet365 operations from Gibraltar to Malta did not go down well with the government of the United Kingdom enclave, which fears an exodus of betting companies due to Brexit.
Currently, Gibraltar is considered to be one of the most attractive jurisdictions for online betting companies.
However, Brexit could pose a major headache for the industry if it cuts off access to the key European market and if it makes it difficult for employees of betting firms to cross over from Spain, where they reside, to their jobs in Gibraltar.