New gambling legislation passed by the Gibraltar Parliament on Wednesday will update an effective but ageing framework and create flexibility for Gibraltar to compete in a fast-changing international market.
Presenting the new Gambling Bill to Parliament, Nigel Feetham, the Minister for Justice, Trade and Industry, underlined the importance of the legislation as Gibraltar seeks opportunities outside the traditional UK market.
He said the sector remained resilient despite “documented headwinds” such as the UK increase in online gaming duties, but acknowledged these had added pressure on operators and sharpened the need for diversification.
“We are now working intensively and at pace to bridge, as far as possible, the gap created by the recent UK decision,” Mr Feetham said, adding that the UK market currently accounts for around 75% of gross revenues in Gibraltar’s gambling sector.
