The gaming sector represents 28% of Gibraltar's GDP
Monday 19 de February 2024 / 12:00
⏱ 2 min read
(Gibraltar).- Gibraltar's economy is usually a mystery for those who do not live their daily lives closely. It is one of the richest regions in Europe, despite the fact that it does not have an industrial sector and does not carry out activities related to agriculture or livestock. The mandatory question is, therefore: what does Gibraltar live on?
In part, the answer is given by the Gibraltarian Government in a statement in which it states that the gambling sector is such an important part of its economy that it represents no less than around 28% of the Gross Domestic Product (GDP).
With this premise, in recent weeks, the Minister of Justice, Trade and Industry, Nigel Feetham, has met with several representatives of the gambling sector in Gibraltar, including Stella David and Per Widerstrom, CEOs of Entain Group and 888 plc, respectively.
888 has acquired the William Hill brand and is currently in the process of integrating the businesses of both companies in Gibraltar. Entain has also undergone structural changes. These companies have a significant presence in Gibraltar and contribute widely to the local economy.
The meetings provided the opportunity to address a range of issues, including regulation, taxation, business optimization and the presence that companies in the sector must – and are expected to – maintain in Gibraltar as part of licensing. .
Minister Feetham was satisfied with the commitment they continue to demonstrate with Gibraltar, considered an important center of operations for these groups with a presence in several jurisdictions. He was also very grateful for the time he invested in these conversations and agreed to continue maintaining close contact with both companies.
Among his other duties, Feetham is responsible for ensuring that all groups with operations in multiple countries that are present in Gibraltar are taxed on the Rock in a manner proportionate to their operations and generate an economic benefit for the local community.
In the coming weeks, Minister Feetham intends to meet with other key gaming stakeholders and financial services companies to clarify the Government's policy priorities.
Categoría:Gaming
Tags: Sin tags
País: Gibraltar
Región: EMEA
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