As Las Vegas is to America, Gibraltar is to Europe. Gibraltar is one of the hottest destinations for the casino lovers of Europe. It is the home for numerous gaming companies. In recent years, however, this industry in Gibraltar is passing through a rough phase. According to a survey, Americans because of their decent economic condition are more addicted towards online casino gambling. The recent US law bars the Americans to pay in online gambling. This has hugely affected the business of the Gibraltar gaming companies.
Well known companies such as 888.com, party gaming and mansion had to show pink slips to their employees. 888 however, dismissed all the rumors and claimed that they have steady financial condition and they are in a position to take over several petty companies in and around Gibraltar. However, according to other sources, Britain’s company, Ladbrokes are planning to takeover 888.com.
The gambling industry in Gibraltar and Europe is in a tumultuous situation. It is predicted that there is a possibility of more job sackings. Several companies are expected to wipe out completely from the scenario, while a large number of small companies will be taken over by giant firms. Many companies have already accepted to merge with the bigger ones.
According to the government, the tax revenue will hardly have an impact because of the mergers. Tax collected from the online poker sites has been around 10 million from the 15 and around legal internet gambling companies. They are expecting almost the same amount of tax in future years too.
Gibraltar’s other gaming companies such as Part Gaming, St.Minver are working hard to increase their number of customers and has arranged for massive propaganda plans for their companies. Statistics show that Part Gaming alone has earned $150 from customers in and around Europe. Thus, in spite of temporary fallout, Gibraltar is expected to rise again.