Gibraltar-based Bet365 has played down claims that it is relocating to Malta, although it plans a major expansion in that country, The Gibraltar Chronicle reports.

The company was responding to an article in The Sunday Times of Malta suggesting Bet365 would move up to 1,000 of its employees from Gibraltar to Malta after Brexit.

It described the report as “speculation” and said the numbers quoted were “wholly inaccurate”.

But the company, which holds a Class 2 sports betting licence issued by the Malta Gaming Authority and has marketing operations based in Malta, confirmed it was scaling up its presence there, the Gibraltar Chronicle says.

Due to regulatory developments in various jurisdictions and the evolving global regulatory environment for online betting and gaming, we have decided to increase our existing presence in Malta, a spokesman for Bet365 told the paper. But he added that the company will retain a strong commitment to Gibraltar, where the main operational hub is based.

Full report here