‘Business as usual’ following Brexit

The UK Gambling Commission has said that it is “business as usual” following the vote to leave the European Union.

James Cook, corporate affairs officer, told InterGame: “It is business as usual for now. We will be working through the implications, including with the DCMS, and will provide further advice and update as and when things develop.”

Providing a viewpoint from the online gaming industry, Warwick Bartlett, CEO of Global Gaming and Betting Consultants, said: “It is a bad result for Gibraltar because of their dependency on employees crossing the border with Spain; although I have not seen a reaction from Spain yet, they have said if the UK were to leave the EU they will shut the border.

“I think that Malta and the Isle of Man are the likely beneficiaries because they have the capacity in terms of offices and housing. Having said that, some will consider the UK because all are having to pay 15 per cent GPT on UK customers and customers outside the UK are tax free. If Brexit transpires, the UK in European terms is an offshore location.

“In terms of the wider economy, markets will settle in about a week. The fall in the GBP will cause a pick-up in inflation, which the government wants. A great deal of i-gaming has now shifted to Asia, which has less regulation and higher staking customers.”