Giant bookmaker to close small Gibraltar office

UP to 20 people may lose their jobs or have to relocate when Paddy Power Betfair closes its Gibraltar office later this year.

Not a major employer in the Gibraltar market place, the company which was formed from the merger of two betting firms in 2016 announced at the onset that it would look to make savings by centralising operations.

The Gibraltar government has expressed its regret at the decision as Betfair first set up on the Rock seven years ago,  but recognised that such reviews will happen with mergers and should the company wish to return to Gibraltar at any time in the future they would be welcome.

“Whatever Brexit may produce for Gibraltar, Government will adapt its licensing and regulatory arrangements to ensure we remain the premier remote gambling jurisdiction” said a spokesperson.