888 packs their bags for Malta
888.com delighted to be awarded Malta gaming licence
888 Holdings has said it is delighted to have been awarded a new gambling license in Malta which the company has stated will mitigate any detrimental effects on the group of the UK leaving the EU.
The company also announced that it has received its 12th licence in Sweden which enables the Group to offer Sport, Casino and Poker in this “significant newly regulated market.”
Brexit, presently scheduled to occur in March 2019, could see Gibraltar cease to be a part of the EU. As a Gibraltar-based group, with many of its licensed subsidiaries registered in Gibraltar, 888 Holdings commenced a restructuring of its European-facing business during 2018. This will see part of the group’s operations “migrated to other EU Member States, most notably Malta, where the group is now a licensed operator.”
The company stated that it is not able to control political changes of this nature, however it has obtained a gaming licence in Malta and established a server farm in Ireland so that it can continue to serve European markets with no disruption to its business.
Chief executive Itai Pazner commented: “The positive momentum at the end of 2018 has continued into the first quarter of 2019 with average daily revenue in 2019 to date up 10% compared to the fourth quarter of 2018.”
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