Tag Archives: gibraltar

Strained 888 implements international ‘cost efficiency’ measures

The governance of FTSE-listed online gambling operator 888 Holdings Plc has begun an international streamlining process which will see the company reduce its staff headcount as 888 seeks to reduce day-to-day operational costs. Last week Israeli business news sources reported that 888 governance would concentrate its cost reduction strategy within its Herzliya North Tel Aviv district office, which houses the …

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UKGC fines Lottoland £150,000 for unclear communication of services

Lottoland

Updating the market, the UK Gambling Commission (UKGC) has announced that Gibraltar-based online lottery operator Lottoland has been fined £150,000 for advertising failings of unclear communication of its services and promotions. The UKGC details that Lottoland advertising ‘did not make it clear to consumers that they were betting on the outcome of a lottery draw and not actually taking part …

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David Clifton: Licensing Expert – GBGA Tax Ruling… Are all bets now off in Gibraltar?

Almost a year ago, the Government of Gibraltar issued a statement following the Brexit vote in which it said that it had been working closely with the remote gambling industry in Gibraltar following that vote and had assured them of its support and vision for the sector in the short, medium and long term. It went on to confirm that …

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CJEU rules against GBGA’s Gibraltar separate gambling tax status

The European Union Court of Justice (CJEU), the EU’s principal law court has ruled against the motion set by The Gibraltar Betting & Gaming Association (GBGA), that the British overseas territory of Gibraltar should be treated as an independent tax jurisdiction. The GBGA had set its EU legal dispute against the UK government relating to ‘Point-of-Consumption (POC)’ taxes introduced in …

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Playtech sponsors Girls in Tech Gibraltar Chapter

Leading industry platform and software provider Playtech Plc has partnered with ‘Girls in Tech’ a global organisation focused on promoting women and diversity within technology-led businesses. The organisation has announced its latest chapter in Gibraltar, with Playtech acting as its lead sponsor. Playtech is partnering with Girls in Tech Gibraltar as part of its commitment to increase diversity and inclusion …

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Centralised Paddy Power Betfair closes Gibraltar offices & operations

FTSE100 bookmaker Paddy Power Betfair (PPB) is set to close down its Gibraltar operations, as part of the firm’s ongoing post-merger transition. The enlarged enterprise has made its decision in order to realign its operations by centralizing its core business divisions. The shutdown of its Gibraltar office will see PPB surrender its Gibraltar Government online gambling licenses inventory. At present, …

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Yggdrasil posts super start to 2017 as company strengthens product development & commercial arms

Presenting its Q1 2017 trading statement, the governance of Yggdrasil Gaming states that it is confident of achieving its full-year corporate expectations having recorded a very strong start to its financial year. Updating investors, Yggdrasil would declare an all-metric improvement, as corporate revenues increased by 134% to SEK 33 million/ €3.45 million (Q1 2016: SEK 14.2 million). The firm’s strengthened …

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Jon Tricker – KPMG – Gibraltar stakeholders united in tackling Brexit impacts

Gibraltar’s eGaming operators are not being browbeaten by Brexit says Jon Tricker, Managing Director KPMG Gibraltar, as he assesses the outlook for the Gibraltar eGaming industry following the Gibraltar eSummit last March. ________________________ It’s difficult for any outlook on Gibraltar’s future not to be dominated by reference to Brexit but it’s also surprising how, in just a few months, talk has …

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Lottoland ranks 128th in The Financial Times European fastest growth index

Gibraltar-based online lottery operator Lottoland has claimed the 128th place in The Financial Times ‘fastest growing European companies index’. The Financial Times’ index ranks the European enterprises with the highest percentage growth between the periods of 2012-2015.   Lottoland which allows its customers to wager on multiple international lotteries such as the US ‘Powerball’ or Spain’s ‘El Gordo’, acts as …

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Potential Brexit impacts see 888 assess Gibraltar operations

FTSE250 operator 888 Holdings (888) is considering alternatives to Gibraltar as its operational centre, should the British Overseas Territory be negatively impacted or restricted by Brexit. The governance of 888, are the first industry stakeholders to publicly view Brexit as a potential ‘future risk’ for its operations. Publishing its 2016 annual report, 888 detailed that Gibraltar’s current licensing remit remains …

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