Gibraltar is set to benefit from tough new regulatory standards due to come
into force in the UK for e-gaming websites, with at least two major gambling
companies reportedly moving or considering moving their operations to the jurisdiction.
The UK's Independent newspaper has reported that William Hill Casino is in
the process of transferring its online business to an approved jurisdiction
meeting the new UK standards, while other reports have suggested that Betfred
has already applied for a licence to operate from Gibraltar.
Last week, James Purnell, UK Secretary of State for Culture, Media and Sport,
announced that up to one thousand online gaming companies based outside of the
European Economic Area (EEA) will be unable to market their services in the
UK unless they relocate to a territory within the EEA, or one elsewhere which automatically meets
the rigorous new licensing regime designed to stop children gambling, protect
vulnerable people, keep games fair and keep out crime.
The EEA comprises all member states of the EU plus Iceland, Liechtenstein and
Norway. It also includes Gibraltar, which is already a well established e-gaming
domicile, and home to the likes of of 888.com and PartyGaming. Research suggests that
there are around 2,300 gambling websites worldwide, with the largest domiciles
including Antigua & Barbuda (537 sites), Costa Rica (474), Kahnawake (Canadian
Reservation) (401) and the Netherlands Antilles (343). While the UK is still
considering whether Antigua should be included on the 'white list,' the other
jurisdictions have been effectively blacklisted, meaning that Gibraltar could
see an influx of companies anxious to be located within the EEA. The only other
offshore territories to have made the white list are the Isle of Man and Alderney.
A spokesman for William Hill confirmed to the Independent that its online business
would be moving to an EEA territory by September 1, when the new licensing regime
goes into effect, in order to gain exemption from the advertising ban, although
company press chief Graham Sharpe declined to confirm to the Gibraltar Chronicle
whether Gibraltar is its preferred domicile.