Britain Vows to Protect Gibraltar as Brexit Progress Spurs Online Gambling Industry Fears
The British Parliament passed the Brexit bill last month, thus putting the beginning of what is expected to be a troublesome and expensive withdrawal from the EU. The future of Gibraltar, known for its thriving online gambling industry and status of an important offshore financial center, will likely become on of the hardest issues to solve, particularly given the fact that Spain will probably try to interfere. Britain Vows to Protect Gibraltar as Brexit Progress Spurs Online Gambling Industry Fears
Gibraltar is a favorite licensing destination mainly due to its lax tax regime. However, its status may change considerably if and once it cuts ties with the EU. Last year, Spain was quick to say that it would close its border with the territory once Brexit is finalized, a move that could wreak great havoc and difficulties.
Many believe that Spain’s attitude can be interpreted as the country’s new attempt to claim Gibraltar’s sovereignty..
Gibraltar is located on the coast in Southern Spain and ever since the Anglo-Dutch war 313 years ago where Gibraltar was captured, the little rock in southern Spain has been an object of bitter contention between Spain and Britain.
What will happen now with Gibraltar when Britain divorces EU? Time will tell however Boris Johnson has stated that they will firmly support Gibraltar in the upcoming Brexit negotiations. Time will tell…