The Sunday Times of Malta reported on the weekend that major online gaming group Bet365 may move its operations to Malta, leaving Gibraltar if the Brexit issue has been finalised. Such a move would entail some 1,000 employees, the paper reports.
Quoting unnamed sources, the Sunday Times of Malta showed that a sale arrangement valued at Euro 70 million has been signed to permit Bet365 to acquire a “sizable part of a brand new house in the Tigne’, Sliema. ”
The movement of this a large group would have a substantial economic impact for the business and for Malta, observers interviewed by the paper said. .
Apart from the fact we are referring to the largest sports gambling company on the planet — with some 23 million clients — a thousand individuals and their families looking for a place to stay for quite some time on a little island, will mean substantial business,” said among these.
The paper reports that the Malta property market is already responding to the information of a possible Bet365 move, with rents rising. Some local observers have expressed worries over possible congestion and overcrowding from the Tigné area.
The operating company for Bet365, Hillside (New Media Malta) plc enrolled three companies at Malta back in 2014, also obtained a remote gaming licence in the Malta Gambling Authority the following year, saying it had been motivated by “regulatory developments in various working territories”.
Hillside also enrolled a new property business in Malta this past year, increasing its paid share capital to Euro 12.5 million to invest in the purchase of the house in Sliema. Last month the company finalised its plans to move part of its business to Malta and enrolled another company, Hillside (Common Services Malta) Ltd..
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