Nigel Feetham, the Minister for Justice Trade and Industry, Gibraltar, convened this month with top executives from the gambling sector as part of the Wider Outreach Programme. The gambling leaders in attendance included Stella David and Per Widerstrom, the CEOs of Entain and 888, respectively.
Both companies, with substantial operations in the region, play a significant role in the local economy. The recent meetings between Feetham and the gaming companies seek to underscore Gibraltar’s strategic importance as a prominent gaming hub.
A statement from the Gibraltar government reads: “888 has acquired the William Hill brand and is currently engaged in integrating the two businesses in Gibraltar. Entain has also been through structural change.
These companies have significant substance in Gibraltar and are both major contributors to the local economy. The gambling sector itself is an important part of the Gibraltar economy (c28% GDP).”
The statement further said that such meetings provided an opportunity to discuss a number of issues including regulation, taxation, business optimization, and the substance that gambling firms were required, and expected, to maintain in Gibraltar as part of the licensing proposition.
Minister Feetham Meets Senior Gambling Sector Leaders As Part Of Wider Outreach Programmehttps://t.co/6HhNIZQa9Y
— Your Gibraltar TV (@YourGibraltarTV) February 19, 2024
“Minister Feetham was pleased with the commitment continued to be demonstrated to Gibraltar as an important hub in what are multi-jurisdictional businesses“, the statement noted. “He was also very grateful for the time invested in these discussions and agreed to continue the close of engagement with both companies.”
As part of his portfolio, the Minister is charged with the responsibility for ensuring that all multi-jurisdictional groups in Gibraltar are structured in such a way as to deliver proportionate levels of taxation in Gibraltar and wider economic benefit for the local community.
In the coming weeks, Minister Feetham intends to engage with other key gambling industry stakeholders and financial services businesses “with a view to making Government policy priorities clear.”
The recent discussions were scheduled with the aim of nurturing a”n environment where the gambling industry can thrive responsibly,” with the discussions focussing on how regulation and taxation can be aligned with the dynamic needs of the sector, ensuring Gibraltar remains an attractive base for these global enterprises.
Minister @NigelMFeetham accepted an invite to the offices of @bet365 in #Gibraltar meeting Leaders and staff colleagues. Press release and photo attached.#ThinkGibraltar @GibraltarGov https://t.co/PhmfzKDDIa via @issuu pic.twitter.com/5uBk7VHLmx
— Gibraltar Finance (@GibFinance) February 13, 2024
Earlier this month, Feetham toured the newly refurbished offices of bet365, another international gaming brand with a thriving presence in Gibraltar. Bet365 currently has a workforce of 210 employees and is working to bolster its operations in Gibraltar.