Paddy Power Betfair closes its Gibraltar offices

maker Paddy Power Betfair is set to close down operations in Gibraltar and move location after consolidating its merger.

The restructure will see the company focus its business in its growing Malta hub, as it seeks to realign its operations by centralising core business divisions.

As a result, it will surrender its Gibraltar Government online gambling licenses inventory. The bookmaker did the same thing last year in the Isle of Man.

The company also confirmed that 20 Gibraltar employees will be offered relocation packages to work in either London or Dublin.

Paddy Power Betfair has commented that its departure from Gibraltar is in no way related to Brexit, although the Gibraltar Government also commented that “whatever Brexit may produce for Gibraltar, the government will adapt its licensing and regulatory arrangements to ensure we remain the premier remote gambling jurisdiction.”