Digital Isle of Man has reported the highest number of eGaming businesses ever licensed in the Isle of Man. Digital Isle of Man, an Executive Agency within the Isle of Man’s Department for Enterprise, is responsible for supporting the Island’s existing ecosystem of diverse eGaming and software businesses as well as attracting new eGaming business to the Island.
The Isle of Man has broken its eGaming records as it revealed that 75 licences have been granted by the Island’s Gambling Supervision Commission (GSC) – the greatest number of licences ever supervised at one time on the Island, and a 15% increase on the previous year.
This is a remarkable 79% rise over the past five years, eclipsing the global eGaming market’s growth.
The announcement comes as Digital Isle of Man attends the International Gaming Summit (ICE) conference at the ExCeL, London.
The event, which runs until Thursday (February 9), brings together industry leaders, innovative tech companies and experts to discuss the latest developments in the egaming and technology world.
This exponential growth of the eGaming sector on the Isle of Man showcases its status as a hub for the industry. Couple the Island’s favourable regulations, stable economy and digital infrastructure with low Corporation Tax, low Gambling Duty and no Capital Gains Tax, and you will understand why the Island is an attractive destination for eGaming businesses looking to expand.
Chief Executive of Digital Isle of Man Lyle Wraxall said:
‘I’m delighted to return to ICE this year off the back of what has been a very successful year for our eGaming sector. Once again, we will be joined by a fantastic delegation of Isle of Man businesses to promote the Island and all it has to offer the eGaming industry, and can be found at stand N6-120.
‘A strong and robust licensing regime used to be seen by many as a barrier to doing business, but is now considered the Isle of Man’s USP, and I’m proud of the role Digital Isle of Man has played to help secure this unprecedented growth for the Island’s eGaming ecosystem.
‘The Isle of Man is at the forefront of the global eGaming industry and has proved just how resilient and adaptable it can be, demonstrating sustained growth for several years.
‘The industry is a significant contributor to our economy, and this latest milestone is a testament to the strength of the Island as an international tech hub.’
In 2001, the Isle of Man was one of the first jurisdictions in the world to introduce legislation specifically designed to benefit gambling and e-gaming firms and fully protect customers, and has established an excellent reputation as a leading regulatory jurisdiction for eGaming, supported by its robust, mature and agile licensing regime, giving businesses prestige on the global stage.
The Island is proud to host many of the world’s leading gaming brands, including Flutter, Games Global, Ballys, Luckbox and Rivalry.