FTSE100 bookmaker Paddy Power Betfair (PPB) is set to close down its Gibraltar operations, as part of the firm’s ongoing post-merger transition. The enlarged enterprise has made its decision in order to realign its operations by centralizing its core business divisions.
The shutdown of its Gibraltar office will see PPB surrender its Gibraltar Government online gambling licenses inventory.
At present, PPB employs 20 staff within its Gibraltar hub, and the company has confirmed that the individuals have been offered relocation packages to work in London and Dublin headquarters.
The decision to close down its Gibraltar presence will see PPB focus its licensing and customer operations services from its growing Malta center. The ongoing realignment of PPB combined operations saw the company terminate its Isle of Man offices last June.
PPB has detailed that its departure from Gibraltar is in no way related to Brexit impacts, post the UK’s departure from the European Union.