Gibraltar rejects claims of gambling sector decline

Andrew Lyman, the Gibraltar Gambling Commissioner, dismissed assertions regarding the end of Gibraltar’s gambling industry in spite of the layoffs and the adverse effects of greater taxes imposed in the UK. Lyman spoke about the layoffs affecting gambling companies in Gibraltar and expressed support for workers undergoing redundancy consultations. There were many companies announcing job cuts this year. For instance, Lottoland has reached out to 270 local employees with potential job losses, while bet365 risks 40 jobs in Malta and Gibraltar due to the plan of cuts. Lyman said: Those that write off Gibraltar as a tier 1 gambling hub … are wrong. The Model is under pressure, but far from spent. Lyman acknowledged that collecting redundancy notices may create a “cloud over the Rock,” but emphasized that declining employment does not equal decline of the gambling industry as a whole. The gambling sector of Gibraltar is further troubled because of the changes in tax laws in the UK. First, the duty on remote gaming was raised from 21% to 40% of gross gaming revenue starting from April 1, 2026, while the tax on remote betting will increase from 15% to 25% in 2027. Lyman said: Operators are sharpening their approach to costs, driving efficiencies in their business and increasing automation and implementation of AI. Lyman mentions that there is a consistent interest in Gibraltar licenses in usual B2C and B2B sectors as well as in more modern types of business. According to him, changes in the region’s gaming legislation have opened further opportunities for consultations in the sphere, but have not weakened the jurisdiction’s position as a licensing center. Gibraltar is trying to develop its services in the sphere of prediction markets. The jurisdiction still offers a gaming duty of £425,000 per year and a corporate tax of 15% imposed on profits earned. Lyman also mentioned the overall regulatory climate in the jurisdiction as well as its treaty relations with EU, as well as residency regulations. It is also predicted that in 2027, there would be another tax increase in its gaming industry when online betting duty in the UK will reach 25%.