Online sports betting operator Bet365 has announced to lay off about 80 percent of its staff in Gibraltar as the company plans to move to Malta.
The company has said in its statement that they will increase its staff headcount in Malta and downsize the staff headcount in Gibraltar. Bet365 has been strategically shifting its base to Malta in light of uncertainties looming due to Brexit.
While the company has said that it will be maintaining a presence in Gibraltar, it has not said how long or in what capacity.
In a statement to Gibraltar Chronicle, Bet365 said that “around 100” of the roughly 500 staff that work at Bet365’s Gibraltar office would be kept on as the company seeks to maintain our dual regulatory and licensing strategy position between Gibraltar and Malta.”
Recently, Bet365 also entered the US sports betting market with an online sportsbook in New Jersey. The gambling operator soft-launched its first sportsbook in the United States market after it got an approval from the New Jersey Division of Gaming Enforcement to hold a test launch of the platform.
Bet365 is partnering with the Hard Rock Hotel and Casino in Atlantic City for its online sportsbook in New Jersey. Currently, there are 16 online sports betting platforms operational in New Jersey.
Earlier in May this year, Bet365 announced to move its business from Gibraltar to Malta to strategically avoid any negative impacts of Brexit.