Bet365 – one of the world’s leading online gambling groups – has finalised plans to relocate its operations to Malta from Gibraltar as soon as the UK exits the European Union next year, The Sunday Times of Malta revealed.
The group, owned by a British family and according to its latest published accounts (2015) having had a revenue of €1.5 billion, is expected to relocate some 1,000 employees from its operations in Gibraltar, significantly boosting Malta’s economy and dependence on the online gambling industry.
The Sunday Times of Malta can also reveal that the owners of Bet365 have already signed a promise of sale agreement to acquire a large part of a new property development sprouting out on the Tigné peninsula in Sliema to serve as the company’s hub of operations.
The promise of sale will come into effect as soon as Brexit materialises, and the British company is expected to pay some €70 million to buy the Sliema property.
Sources close to the gambling industry told The Sunday Times of Malta that the relocation of Bet365 to Malta would be a game changer for the island, as it is expected to create a major economic boost.