The Isle of Man is conducting a strategic review of its eGaming sector following a turbulent year that saw the jurisdiction hit by international crime allegations and a wave of license surrenders.
The review, commissioned by the Department for Enterprise, comes as the island’s once-flagship industry faces mounting challenges from both inside and outside its borders. A report by the United Nations Office on Drugs and Crime (UNODC) last year alleged that criminal syndicates had used Manx-registered businesses to launder proceeds from Southeast Asian scam operations – a claim that cast a long shadow over the island’s reputation.
At the same time, several established eGaming operators, including Celton Manx, voluntarily relinquished their Isle of Man licenses, citing purely commercial considerations. While no wrongdoing was attributed to these companies, the exits have raised eyebrows and prompted renewed discussion about the island’s long-term competitiveness as a licensing hub.
New jurisdictions – such as Nevis in the Caribbean and Anjouan, part of the Comoros archipelago – are emerging as low-cost alternatives and aggressively courting operators with simplified regulatory regimes and faster onboarding.
The issue reached the floor of the island’s parliament, Tynwald, when Douglas North MHK John Wannenburgh queried whether a strategic reassessment of the sector was underway in light of recent developments.
Enterprise Minister Tim Johnston confirmed that such a review had been initiated late last year, noting the sector had “faced a number of challenges in recent years, which have raised questions about its future.” He said the goal is to develop a refreshed eGaming strategy in collaboration with industry stakeholders.
“The sector has matured since it was established 25 years ago,” Johnston said. “And the landscape for businesses, regulators, and jurisdictions has evolved significantly.”
To guide the process, the government has engaged an external consultant to deliver a comprehensive review of the sector. The findings will form the backbone of a new strategic roadmap, complete with an action plan expected to be released this month.
Despite the headwinds, Johnston reaffirmed the government’s commitment to eGaming as a cornerstone of the Manx economy, stressing the importance of ensuring the sector remains both sustainable and globally competitive.
