The Isle of Man, an eGaming licensing jurisdiction situated in the Irish sea between Scotland and Ireland, continues to experience an influx of new applications and businesses looking to set up base on its shores. That is the conclusion of a recent local government conference. But while many operators are seemingly keen to move to the island, others are already reducing their footprint again.
Digital Isle of Man, the government body tasked with bringing new business and jobs to the island, recently reported that its targets of creating 200 new jobs and growing the number of live online gambling licences to 90 during 2023 have been partially achieved.
During the annual Digital Isle conference on the outskirts of the island’s capital city, Douglas, the department confirmed that at the time of the presentation, the job target was 72 percent met and the licence target 93 percent. A look at the licence holder section on the Isle of Man GSC website now shows over 100 entries, indicating that the licence target may have been achieved since the event took place.
Even if the number of live, meaning operationally active, licences fell short of the self-imposed target, there is no denying that the island is in the middle of a renewed eGaming boom at the moment.
Helped by regulatory changes in rival jurisdictions like Curaçao and ever-more tightening general compliance requirements, many gambling companies see a presence in the crown dependency as a sensible investment. Among them are also numerous operators from Asia, who are increasingly bringing their own operational staff with them.
Chief among them at the moment is King Gaming, a technology provider that recently received planning approval for what is being called the ‘largest single private investment in the Isle of Man’. The new headquarter is currently being constructed in the capital and will provide space for 300 employees, 100 of which will also be able to live on site.
Rival firm Celton Manx, who operate the SBObet brand, also recently expanded and now operate a live dealer casino studio on the island. While these are the most prominent names, many smaller companies from Asia and elsewhere are also in the process of setting up shop, with over 90 new licence applications currently in the pipeline.
Not everyone finds success on the island, however, and a number of licences have also been handed back in recent times. While these are said to be in the single digits, it does indicate that strict regulations can also pose a significant challenge, especially for operators and technology providers not yet used to such a framework.
One prominent operator also just closed one of their offices on the island and moved and sizeable number of staff back to Asia. While the firm in question is still licensed on the island and seemingly plans to remain so, an internal review appears to have come to the conclusion that the company’s aims are better served with operations focused on its main base in Manila.
