Respected gambling expert Warwick Bartlett says the row over Gibraltar could ’create opportunity’ for the Isle of Man’s eGaming industry.

Mr Bartlett told Business News that in an uncertain world the island would be ’the most certain’ of all the eGaming jurisdictions to benefit.

Mr Bartlett is the chief executive and owner of the Castletown based business GBGC, the Global Betting and Gaming Consultants.

Gibraltar has been hitting the headlines in the last week as tensions escalated between London and Madrid over the future of the overseas territory. ’The rock’ has been a popular destination for gaming companies that have settled there in recent years.

Mr Bartlett told Business News: ’Uncertainty over Gibraltar could create opportunity for the Isle of Man.

’For the time being [gambling] operators on Gibraltar will be watching developments and are unlikely to incur the cost of jumping ship without justification.

’This is unlikely to materialise until the Brexit negotiations get under way.

’Some of the operators have taken seven year leases in the new World Trade Centre so at the time of signing those leases they were confident about the future.

’However Spain’s intervention in the Brexit negotiation has created a new dimension, and the future is now less certain.

’As the Isle of Man knows to its own cost, the UK is not looking favourably at jurisdictions that have tax rates lower than the UK.

’Gibraltar has no VAT, practically non-existent excise duties, and low corporation tax rates.

’While sovereignty with the UK may be sacrosanct trading terms with the rest of the world may not be, and the imposition of duties and higher corporation tax would not only suit Spain but the UK’s agenda against low tax regimes.

’I am less confident about Gibraltar now than I was before.

’Malta would still be the most favoured option for the Gibraltar gambling companies because of its EU status.

’However post Brexit costs may rise in Malta when the UK contribution to the EU falls away, and the remaining countries pick up the short fall.

’In an uncertain world the Isle of Man is the most certain of all the egaming jurisdictions.

’All the risks and benefits are known and are unlikely to change.’