Bet365 Move Operations Out Of EU Zone Amid Brexit Fears

With the recent news on Brexit and the failure to deliver a Brexit deal, we are seeing increasing unrest amongst businesses within the UK and Europe.The latest move in a bid to avert problems from the Brexit deal are Bet365, who are moving operations out of Gibraltar, and relocating to Malta. Bet365 have held a license in Malta since 2015, over 500+ jobs are to be relocated.

Brexit Uncertainty

Bet365 who have offices in Stoke On Trent UK, hold a large proportion of its operations in Gibraltar, a UK territory. Due to the mass uncertainty of Brexit and what it holds for the countries that have close trading ties with the UK, businesses are ceasing operations with such uncertainty.Bet365 have commented on the move,“ 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 multi-site 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 the business planning and in order to maintain operational effectiveness, we intent to enhance our Maltese operational hub and relocate certain functionality there.”

Is The US The Way Forward?

Bet365, along with other UK operators are looking elsewhere to maximise their operations, with the US gambling market looking more likely to be the place to expand.Bet365 signed a partnership with Hard Rock Hotel and Casino in Atlantic City. They have offices in New Jersey, which are closely located to Atlantic City, where most of the gambling is located in this State.Bet365 are following on in the footsteps of William Hill and Paddy Power who have both formed partnerships in the US, both companies are making huge strides forward in the ever-expanding US Gambling Market.     

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