The Hon. Nigel Feetham KC MP – KPMG Summit 2024
This is my first KPMG E-summit as Minister responsible for the gambling sector in Gibraltar; but it is an industry that I am familiar with and I have already engaged with a number of operators. I am delighted that numerous key industry leaders have accepted invitations to this conference and we will hear about the challenges they face. We will also hear later today from a panel of regulators from the UK, Isle of Man, Jersey and Gibraltar about the challenges of regulating multijurisdictional operators and the increasing level of co-operation at a supra national level between regulators. Gibraltar is proud to be making a contribution to that regulatory network. It is fantastic that regulators from other jurisdictions are prepared to travel to Gibraltar. I extend a warm welcome to you all, but would particularly like to thank KPMG and the sponsors for their support for the conference. The theme of the summit is one devoted to horizon scanning and what the next decade will look like. From my perspective the subject matter of the conference is of key importance to a jurisdiction which derives in excess of 20% of its GDP from the sector in the form of taxation and wider macro- economic contribution. It is also a changing sector: multi- jurisdictional in nature, still consolidating because of the rising costs of doing worldwide business, but with an increasingly complex competitive supply chain which includes new technologies. It is with that in mind that I am able to announce that the final amendments to the Gambling Bill have been made and we hope to publish this shortly, before taking the Bill to Parliament in the early Autumn. We intend to go live with aspects of what will then be a new Gambling Act as soon as practicable, during the first quarter of 2025. 1