New EU Deal Boosts Gibraltar’s Gambling Industry, Says Trade Minister
Summary
Gibraltar’s new agreement with the European Union (EU) is set to bolster its gambling industry by eliminating checks on people and goods crossing the Gibraltar-Spain land border. Trade minister Nigel Feetham announced this development as a significant win for the local economy, especially since many gambling firms operate from Gibraltar and employ cross-border workers.
The deal, a culmination of ongoing Brexit negotiations, aims to secure local jobs and ensure economic stability in Gibraltar, with Feetham praising the agreement for future generations.
Additionally, Gibraltar’s gambling sector is under increasing pressure from black market competition, which has prompted discussions on a new Gambling Bill expected to be debated post the parliamentary summer break.
Key Points
- New EU deal removes border checks, benefiting Gibraltar’s gambling companies.
- Many employees in the gambling sector commute from Spain, making this agreement crucial.
- Feetham believes the deal secures local jobs and strengthens Gibraltar’s economy.
- The Gambling Bill aiming to regulate the industry is nearing debate stage.
- Gibraltar was provisionally delisted from the EU’s high-risk jurisdictions list, with ratification pending.
Why should I read this?
If you’re interested in how Brexit continues to impact economies and industries, especially in niche sectors like gambling, this article offers a fresh angle. It highlights the interplay between local regulations, cross-border employment, and international agreements, which could shape the future landscape of Gibraltar’s economy.