UK online sports betting giant Bet365 is shifting most of its Gibraltar operations to Malta as a hedge against potential Brexit fallout.

On Thursday, the Stoke-based Bet365 issued a statement saying the company would increase its operations in Malta at the expense of its Gibraltar operations to “ensure [European Union] market access and to maintain and enhance operational efficiencies.” Bet365 plans to “maintain a presence” in Gibraltar but declined to offer further details.

The Gibraltar Broadcasting Corporation (GBC) reported that an undisclosed number of Bet365’s Gibraltar staff were handed redundancy notices on Thursday while other staff are being offered new positions at Bet365’s Malta offices.

Bet365 said its decision was due to a “highly uncertain environment, driven primarily by the continuing Brexit landscape.” A review of Bet365’s business had determined that it was “increasingly challenging to efficiently run multisite operations.”