The company will be shifting most of their operations in Gibraltar to the island of Malta, which also serves as a major regulatory hub for online gaming. The move is being made in an effort to maintain access to the broad European market, which may be complicated when the UK leaves the EU. It doesn't appear that the company is leaving Gibraltar fully, but Bet365 was vague about what their presence in the territory will be moving forward.
The Times of Malta newspaper filed a story that claimed that Bet365 was involved in a €70 million deal to build a hub in Malta. That agreement was set to begin on March 30th, but has been extended as the UK hasn't formulated a plan to leave the EU.
A Bet365 spokesman spoke about the decision, sharing: "As part of our strategic and contingency plans to ensure EU market access and to maintain and enhance operational efficiencies, we have been building our presence in Malta and operating a dual regulatory and licensing strategy between Gibraltar and Malta for a number of years. However, from an operational and technical perspective and given our operating model, it has become increasingly challenging to efficiently run such multisite operations and this has necessarily resulted in us conducting a review of our operations.
"We also continue to operate in a highly uncertain environment, driven primarily by the continuing Brexit landscape. Therefore, to assist with business planning and in order to maintain operational effectiveness, we intend to enhance our Maltese operational hub and relocate certain functionality there."