New EU deal protects Gibraltar’s gambling industry, says trade minister
Summary
Gibraltar’s new border fluidity deal with the European Union (EU) promises to significantly benefit the local gambling industry, as stated by trade minister Nigel Feetham. The recent agreement means that both people and goods moving across the Gibraltar-Spain border will no longer require checks, providing a boost for the industry.
Major gambling companies like Entain, BVGroup, and bet365 have operations in Gibraltar, and the deal is seen as a positive step following Brexit negotiations which have been underway since 2020.
Key Points
- The EU deal allows for smoother movement across the Gibraltar-Spain border, benefiting the gambling sector.
- Gibraltar is home to prominent gambling companies which employ a significant number of cross-border workers.
- Feetham emphasised the importance of this agreement for local jobs and economic stability.
- The recent budget shows strong tax revenues, indicating a thriving industry.
- Efforts are being made to combat black market competition affecting licensed operators.
Why should I read this?
If you’re interested in how international agreements can shape local economies, especially in niche sectors like gambling, this piece is a must-read. It sheds light on how Gibraltar is navigating post-Brexit challenges and securing jobs while ensuring the survival of its lucrative gambling industry. You don’t want to miss this insight into economic resilience!