ISLE OF MAN ONLINE GAMBLING LICENSING PICKING UP

(553) (29-September-2006)

30 percent increase in applications for IOM e-gaming licenses

The head of e-gaming development on the Isle of Man off the west coast of England, Bill Mummery revealed this week that authorities had experienced a 30 percent rise in e-gaming license applications.

Mummery said that recent events in Europe and in the US had highlighted the need for operators "...to be located in a premier jurisdiction with strong regulations".

Mummery commented: "Events in the US can only have a positive impact on the Isle of Man and highlight the need for operators to carry out a thorough business risk analysis, including ensuring they are located in a well-regulated world class jurisdiction. This works well for the Isle of Man which boasts a strong regulatory structure and remains committed to delivering the benefits of a premier jurisdiction to the industry."

The Isle of Man said it had achieved great success in recent years in the online gaming sector, with many operators and service providers locating there. It said this was in large part due to the recent changes it had brought to its regulatory framework, which showed it was willing to listen to operators and provide an environment that was "well regulated without restricting their business opportunities".