{"id":48132,"date":"2017-04-10T15:00:40","date_gmt":"2017-04-10T22:00:40","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=48132"},"modified":"2017-04-10T14:23:21","modified_gmt":"2017-04-10T21:23:21","slug":"888-mulls-post-brexit-gibraltar-exit","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/888-mulls-post-brexit-gibraltar-exit\/","title":{"rendered":"888 Mulls Post Brexit Gibraltar Exit"},"content":{"rendered":"

888 Holdings has hinted for the first time that it could move its headquarters from Gibraltar to Malta due to the uncertainty surrounding the former\u2019s post-Brexit future.<\/p>\n

\"888
On this rock they built a major European online gambling hub, but this week 888 became the first operator to suggest it might emigrate to Malta in the wake of Brexit. (Image: visitgibraltar.gi)<\/figcaption><\/figure>\n

Despite Britain\u2019s assurances last week that it would protect Gibraltar\u2019s interests during forthcoming Brexit negotiations, and Gibraltar\u2019s chief minister Fabian Picardo\u2019s expressed optimism about the territory\u2019s future as a gambling hub, 888, one of its biggest licensees, is having doubts.<\/p>\n

In its annual report, published this week, 888 said that while it intends to maintain a presence on \u201cthe Rock,\u201d it would consider upping sticks for Malta, where it would be guaranteed future free cross-border movement of people, goods, services and capital with other EU member states.\u00a0 \u00a0<\/span><\/p>\n

\u201cThe proposed status of Gibraltar in relation to the United Kingdom as a result of \u2018Brexit\u2019 is at present unclear,\u201d the report said. \u201cIf 888 were to remain registered, licensed and operating in Gibraltar in these circumstances, its ability to rely on EU freedom of services\/establishment principles in supplying its services within the EU will be limited.\u201d<\/p>\n

Political Uncertainty<\/b><\/h2>\n

888<\/a> said that it relied on EU principles for its regulatory strategy in major EU markets and that Gibraltar\u2019s exit from the EU would render it unable to \u201ccontrol or mitigate\u201d political changes of this nature. It would, in the future, \u201creconsider the appropriateness of remaining registered, licenced and operational in Gibraltar in these circumstances.\u201d<\/p>\n

It also suggested Malta might be considered as an alternative \u2018dot com\u2019 licensing jurisdiction.<\/p>\n

\n

Gibraltar, which is an EU member by virtue of its status as a British territory, voted overwhelmingly to remain in the union in last year\u2019s Brexit referendum, by more than 94 percent.<\/strong><\/p>\n<\/blockquote>\n

The online gambling industry is Gibraltar\u2019s largest employer, accounting for around 25 percent of its GDP. But because of its size, the vast majority of its workforce lives across the border in Spain. Much of the territory\u2019s ability to continue to exist as a major jurisdiction will lie in Spain\u2019s willingness to permit some degree of cross-border movement.<\/p>\n

Sovereignty Dispute<\/b><\/h2>\n

But Gibraltar has long been the subject of an occasionally hostile sovereignty dispute between Britain and Spain, which ceded the territory to the British in 1713.<\/p>\n

Spain has suggested a \u201cshared sovereignty\u201d approach, post-Brexit<\/a>, that would allow Gibraltar to stay in the EU. But the Rock\u2019s residents consider themselves overwhelmingly British and have rejected the proposal, despite what leaving the EU might mean for their economy.<\/p>\n

Many licensees have expressed their support for the hub, however. Lottoland CEO, Nigel Birrell, said in the wake of the Brexit vote, that Gibraltar had been \u201cthe perfect base for our business, providing an excellent platform for our success.<\/p>\n

\u201cOur business is thriving and the benefits of staying in Gibraltar remain very strong indeed,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

888 Holdings has hinted for the first time that it could move its headquarters from Gibraltar to Malta due to the uncertainty surrounding the former\u2019s post-Brexit future. Despite Britain\u2019s assurances last week that it would protect Gibraltar\u2019s interests during forthcoming Brexit negotiations, and Gibraltar\u2019s chief minister Fabian Picardo\u2019s expressed optimism about the territory\u2019s future as […]<\/p>\n","protected":false},"author":42,"featured_media":48136,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,60,13],"tags":[],"acf":[],"yoast_head":"\n888 Mulls Post Brexit Gibraltar Exit<\/title>\n<meta name=\"description\" content=\"888 Holdings would leave Gibraltar for Malta to remain in the EU, the company said in its annual report this week.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"888 Mulls Post Brexit Gibraltar Exit\" \/>\n<meta property=\"og:description\" content=\"888 Holdings would leave Gibraltar for Malta to remain in the EU, the company said in its annual report this week.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/888-mulls-post-brexit-gibraltar-exit\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-10T22:00:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-04-10T21:23:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/04\/url.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"366\" \/>\n\t<meta property=\"og:image:height\" content=\"138\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/888-mulls-post-brexit-gibraltar-exit\/\",\"url\":\"https:\/\/www.casino.org\/news\/888-mulls-post-brexit-gibraltar-exit\/\",\"name\":\"888 Mulls Post Brexit Gibraltar Exit\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/888-mulls-post-brexit-gibraltar-exit\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/888-mulls-post-brexit-gibraltar-exit\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/04\/url.jpg\",\"datePublished\":\"2017-04-10T22:00:40+00:00\",\"dateModified\":\"2017-04-10T21:23:21+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"888 Holdings would leave Gibraltar for Malta to remain in the EU, the company said in its annual report this week.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/888-mulls-post-brexit-gibraltar-exit\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/888-mulls-post-brexit-gibraltar-exit\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/888-mulls-post-brexit-gibraltar-exit\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/04\/url.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/04\/url.jpg\",\"width\":366,\"height\":138,\"caption\":\"On this rock they built a major European online gambling hub, but this week 888 became the first operator to suggest it might emigrate to Malta in the wake of Brexit. 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