New EU deal protects Gibraltar’s gambling industry, says trade minister
Summary
Gibraltar’s new border fluidity deal with the European Union (EU) is set to bolster the local gambling industry, as stated by the trade minister, Nigel Feetham. The recent agreement means individuals and goods crossing the Gibraltar-Spain border will no longer face checks, aiding many gambling companies based in Gibraltar with staff commuting from Spain.
This deal, considered a significant milestone in the post-Brexit landscape, has been in negotiations since the UK’s exit from the EU in 2020. Feetham highlighted that two-thirds of Gibraltar’s gaming workforce are cross-border workers, and this deal is crucial for the economy.
Key Points
- The EU agreement allows for smoother border crossing, boosting the gambling industry in Gibraltar.
- Major operators like Entain and bet365 are established in the territory, benefiting from the deal.
- Two-thirds of the gambling workforce are cross-border workers, a vital part of the industry.
- Gibraltar’s economy is seeing increased tax revenues thanks to the favourable legislative environment.
- The Gambling Bill aimed at regulating operations further is nearing completion, indicating progressive regulatory measures.
Why should I read this?
This article is a must-read because it highlights how a new EU agreement is pivotal for Gibraltar’s gambling sector, securing jobs and economic stability in the region. With ongoing challenges post-Brexit, this deal ensures a more robust framework for industry players, making it a significant development for anyone invested in gambling and EU relations.