Gibraltar's Gaming Industry and Business Ecosystem

Introductions

Ed Allison-Wright: Director at World Trade Center Gibraltar, town planner by trade, involved in various sectors with a focus on attracting talent, especially for gaming.
Peter Montegrifo: Senior partner at Hassan’s Law Firm, experienced in company commercial and transactional work, involved in the early days of the internet gaming sector in Gibraltar.

Gibraltar's Current Status as a Gaming Hub

Recognized as a premier jurisdiction for internet gambling and gaming within Europe.
Focus on attracting quality with collaboration between industry, government, regulators, and professionals.
Unique ecosystem with on-ground expertise.
Adaptation and success despite challenges such as Brexit and COVID-19.
Continual reinvention and agility are strengths.

Impact of COVID-19 on Gibraltar's Gaming Industry

Pre-Pandemic: Gibraltar had significant annual GDP growth (~5% for 30 years).
Pandemic Response: Companies had pre-existing work-from-home strategies due to Brexit contingency planning. This facilitated a smooth transition during COVID-19, enabling companies to quickly adapt and continue operations.

Role of Organizations

World Trade Center Gibraltar: Provides incubated space for businesses, fostering integration of supply chains and creating a business-friendly environment. Also focuses on lifestyle amenities to attract talent.
Hassan's Law Firm: Played a significant role in developing Gibraltar as a legal and business jurisdiction. Focus on attracting long-term quality operators and combining local and external expertise.

Brexit and Gibraltar's EU Relations

Gibraltar was part of the EU but had to leave with the UK despite a strong vote to remain.
Importance of frontier fluidity due to many workers living in Spain and working in Gibraltar.
Agreement in principle to integrate Gibraltar into the Schengen area, enhancing mobility and attractiveness as a base that combines UK legal system and European connections.
Positive outlook towards capitalizing on post-Brexit opportunities with agility and common purpose.

Lifestyle and Taxation in Gibraltar

Highly tax-competitive environment: No capital gains tax, no inheritance tax, low-income tax rates (10% for companies).
Focus on creating an attractive living environment with 300 days of sunshine and a balance between work productivity and lifestyle.

Rise of Other Industries: Cryptocurrency and Fintech

Gibraltar is seen as a safe base for cryptocurrency due to favorable DLT legislation.
Beneficial for gaming companies by enlarging the tech talent pool.
Emphasis on continually adapting to maintain a leading position in technology and related fields.

Concluding Remarks

Peter Montegrifo: Emphasizes the common sense of purpose and collaboration within Gibraltar. Importance of building centers of excellence in selected areas (e.g., military, insurance, gaming, crypto).
Ed Allison-Wright: Highlights Gibraltar's strategic positioning within the UK family and global trade networks via World Trade Center links. Optimistic about future growth and opportunities.

Overall, Gibraltar is poised for continued success and growth as a leading hub for gaming and various industries, backed by strong community collaboration, favorable tax conditions, and strategic geographical positioning.