Despite ceding Gibraltar to Britain in 1713, Spain has long sought to reclaim the territory and the online gambling industry hopes that this will never become a reality. According to the Guardian news source negotiators from the UK and Spain have reached a draft agreement on the after Brexit future of Gibraltar.
There are many hurdles to overcome when it comes to online betting companies that are part of the Gibraltar economy with major gambling firms such as William Hill opening a Brexit taskforce to keep abreast of the changing times.
Spain’s foreign minister, Arancha González Laya, said recently, “Today is a day for hope,” adding, “In the long history of our relations with the UK, related to Gibraltar, today we’re facing an inflexion point.”
Schengen, González Laya told reporters, as part of the deal, the British Overseas Territory would be able to join European Union programmes and policies such as the Schengen Area which is an area comprising 26 European countries that have officially abolished all passport and all other types of border control at their mutual borders. The area mostly functions as a single jurisdiction for international travel purposes, with a common visa policy.
The fate of the territory was the topic of months of parallel negotiations that focused on preserving free movement across the shared border with Spain. González Laya said, “It was six months of intense work,” “There were difficult moments, there were moments where we were stalled.”
The situation in Gibraltar is far from resolved with over 98% of the population of Gibraltar wanting to remain part of Great Britain there will still be a great impact on the that large numbers of people crossing the border daily from Gibraltar to Spain for work. It is estimated that 60% of online gaming workers live in Spain and travel to Gibraltar for work.
The gambling industry depends on the approach taken by the Spanish government. There are approximately 30 gambling companies based in Gibraltar and a lot will change after Brexit however the gambling industry is unlikely to change significantly.
