Sports betting giant Bet365 has confirmed plans that it has decided to expand its operations in Malta.
The UK company, which currently has its operations hub in Gibraltar, says it will however, still keep a “strong presence” in the United Kingdom enclave. Bosses have declined to say if Malta will become its new central hub after Brexit in October.
In a statement issued on Monday, Bet365 said it “confirms plans to expand its presence in Malta”.
“Due to regulatory developments in various jurisdictions and the evolving global regulatory environment for online betting and gaming, we have decided to increase our existing presence in Malta, which provides a mature and robust regulatory environment for the industry.” United Kingdom fears an exodus of betting companies due to Brexit
The company also confirmed that it has also acquired new property in Malta but did not say where.
“We are taking additional property space and looking to recruit additional personnel in Malta to support our online operations and will also be expanding our infrastructural capabilities on the island.”
Local media had said that Bet365 – the largest sports betting company in the world – has decided to move most of its operations to Malta from Gibraltar due to the UK’s exit from the European Union.
One newspaper reported sources saying some 1,000 personnel were expected to be relocated to the island and that the company had already entered into a promise of sale agreement to acquire part of a massive development currently taking place in Tigné, Sliema.
However, according to Bet365, the number of people to be relocated to Malta was “wholly inaccurate” and only revealed that the number of people it currently employs in Gibraltar will remain the same.