THE GSD has expressed its ‘concern’ and ‘disappointment’ at the relocation of Bet365 from Gibraltar to Malta.
The opposition party, lead by Keith Azopardi, was reacting to a huge downscaling operation announced by the betting company, that could see over 500 staff leave the Rock.
Bet365 said its move, which has been welcomed by the Maltese Prime Minister, was a response to the uncertainty of Brexit
GSD Spokesperson Orlando Yeats said: “The announcement is a big blow for Bet365 employees and Gibraltar in general.
“Apart from the job losses this announcement will have a knock-on effect on the local economy.
“Gaming companies generate huge wealth via corporate taxes, rents and utilities.
“Their staff also spend much of their disposable income propping up the local retail and hospitality sectors.”
The party also blasted what it called the Government’s ‘aimless strategy’ of backing of British Prime Minister Theresa May.
It also pointed to a statement issued by Chief Minister Fabian Picardo’s Government that it ‘had a high degree of confidence’ that Brexit could benefit Gibraltar companies and that Bet365 would maintain a workforce on the Rock.
The Olive Press understands that employees in Bet365’s Waterport Place office in Gibraltar have been given eight weeks to decide if they want to relocate to Malta.