Only a few days after its launch in the UK, Gamesys Group-owned Virgin Bet has confirmed that it will be situating its operations in Gibraltar.
The Gibraltar Government has congratulated Virgin Bet on its successful application for a new gambling licence, and new partnership with SBTech, which allows the group to operate in the UK sportsbook market.
Gamesys’ Gibraltar Marketing Director Simon Mizzi celebrated the launch of operations on The Rock: “We’re excited to launch Virgin Bet into the world’s most competitive sportsbook market, and we feel that Gibraltar is the perfect location for us to base our operations.”
The group’s investors and management chose Gibraltar as a base after previous successes on the island, while also emphasising that Gibraltar will be the only jurisdiction which has guaranteed market access to the UK in the event of the UK and Gibraltar leaving the EU.
Gibraltar’s Minister for Commerce, Hon. Albert Isola MP, also praised the decision from Virgin Bet. He added: “We maintain that Gibraltar is a leading jurisdiction from which to operate a remote gambling business.
“A large number of existing operators, despite Brexit challenges, continue to maintain faith in the jurisdiction and this is shown by the increase in start-up businesses aimed both at the UK and non-EU international jurisdictions.”
The praise follows on from the recent news that amid Brexit concerns, bet365 is reported to have sanctioned a multi-million relocation project to migrate its staff to Malta.
The operator’s management confirmed that it had been undertaking the relocation of ‘certain functionalities’ to Malta as part of its “strategic and contingency plans to ensure EU market access.”
The operator emphasised that its decision was ‘driven primarily by the continuing Brexit landscape’, however it will still maintain a presence within Gibraltar.