Gibraltar Reaches Agreement with Spain On Gambling Industry
Gibraltar has reached a tentative agreement with Spain to protect its gambling industry and its workforce in the face of concerns over how Brexit will affect the Overseas British Territory.
About 14,000 people commute daily between Gibraltar and Spain, most of which work in the gambling industry. The UK’s scheduled leaving of the European Union in March has raised questions about how those workers will be affected. The UK yet to reach a final deal on its departure from the EU.
Gibraltar and Spain have now agreed to their own deal ahead of a UK deal which would allow the arrangements between the two countries to stay stable assuming the UK makes a deal with the EU.
Gibraltar Chief Minister Fabian Picardo said “common sense has prevailed” and the territory has agreed terms with Spain on issues such as customs, policing and the environment, according to the Times of Malta.
Gibraltar has been working to preserve its gambling industry ahead of Brexit. In July, the territory set out changes to licensing and duties as part of preparations for impact of the change. Still major companies like Bet365 and 888 Holdings have announced they will be relocating some operations to Malta.