Gibraltar’s reputation as a world leader in the online gaming industry has been bolstered by the recent approval by the Supreme Court of Gibraltar of a cross-border merger between 888 Spain PLC (Gibraltar company) and Apuesta Ganador Online S.A (Spanish Company).
Brothers Steven Caetano, Partner and Christian Caetano, Senior Associate, of the Commercial team at ISOLAS advised the merging companies in their joint application for a cross border merger under the Gibraltar Cross Border Merger Regulations 2010 and are proud to have completed this landmark transaction after working closely with DLA Piper Spain over the past few months.
Christian Caetano said “…we understand that this is the first such ruling to have been granted by the Gibraltar Courts involving a cross border merger between a Spanish gambling licence holder and a Gibraltar company, and is therefore hugely significant…”.
Steven Caetano explained that “…this cross-border merger is significant for a number of reasons, not least of which is the specific cross-border nature of this transaction, namely the merger between a Gibraltar-based entity and a Spanish one. Despite the various legal challenges we dealt with in this matter, we are certain that this will have a hugely positive impact on Gibraltar’s legal/ corporate and gaming sector as well as Gibraltar’s growing reputation for high value cross-border transactional work since the enactment of the legislation into local law….”.
ISOLAS has and continues to regularly advise a significant number of key players in the Gibraltar online and land-based gaming sector, helping them to obtain licensure and facilitate the significant growth in this sector in recent years.