Limassol-based BrainRocket is expected to relocate the majority of its operations to Spain, moving almost 1,000 employees, according to both Cypriot daily Politis and information received by the Cyprus Mail.

The Israeli-owned company currently employs about 1,500 people in Cyprus and has operated in Limassol for around a decade.

According to the information shared by the paper, which is aligned with what the Cyprus Mail has also been told, the decision will see its main business cycle move from Cyprus to Valencia, with some operations also shifting to Malta.

While BrainRocket will not fully withdraw from Limassol, Politis reported that only a few hundred staff will remain in specific departments.

The company, part of the Soft2Bet group, focuses on online gambling services and related activities, including online payments, software and game development.

BrainRocket also rents several buildings in Limassol for its staff and operates BRO Academy, its corporate educational initiative offering IT training courses for beginners seeking to enter the tech industry as well as for professionals.

BrainRocket has offered relocation packages to employees, including Cypriots, inviting them to continue working for the company in Spain.

Citing its own sources, Politis reported that the move is not linked to geopolitical tensions or disagreements with the Cypriot government, but rather to internal corporate considerations.

Industry sources estimate many of those leaving will be absorbed by other Limassol-based companies, particularly skilled staff.

However, some are expected to leave Cyprus entirely, which could affect the local property market, with hundreds of apartments likely to be vacated.

Local organisations, including sports teams previously sponsored by BrainRocket, have been informed that financial support will end.