|New regulations for Isle of Man|
|Monday, 01 February 2010 10:39|
The Isle of Man Government has announced changes to its gambling regulations which make it possible for an e-Gaming company to base its non-gambling related activities and operations in the Isle of Man without needing an OGRA gambling licence.
Under the new regulations the exclusions from licensing include activities such as marketing, administration, software downloads, customer support and relay servers allowing e-Gaming companies and other related business to base their non-gambling allied activities in a jurisdiction which supports all aspects of the industry. Companies will still need an OGRA gambling licence for core activities including striking the bet and player fund activity.
Garth Kimber, head of e-Gaming development commented: “Our new streamlined regulations further demonstrate our commitment to growing the e-Gaming industry on the Isle of Man. The Isle of Man is developing a multi-faceted e-Gaming industry and activities such as marketing, administration and customer support are an important part of this. Moreover, in the last 12 months we have worked to ensure our regulatory environment is compatible for a variety of e-Gaming companies and changes to our gambling regulations further highlight the flexible approach the Isle of Man Government takes in order to accommodate the needs of new and existing businesses.”
The announcement also coincides with an Isle of Man Government delegations attendance at IGE [stand 5650]. IGE is a leading event for the global e-Gaming industry and presents a perfect opportunity to showcase the benefits of the Isle of Man to the industry as well as discuss the new regulations with relevant business. The delegation from the Isle of Man Government will be joined by 11 other companies active in the island’s e-Gaming sector across the key disciplines of data hosting, corporate services, payment services and IT.
Kimber continued, “Attendance at previous IGE events has resulted in a number of companies deciding to relocate to the island and we are confident that this year will be no exception. We welcome this opportunity to discuss the changes to our gambling regulations and look forward to building new relationships at IGE with an ever diverse range of e-Gaming businesses.”
Minister for Trade and Industry Hon David Cretney MHK commented:“The Island’s presence at IGE gives us the opportunity to meet businesses face-to-face, and, in doing so clearly highlights the benefits for businesses of relocating to the Isle of Man. It is also great to be attending the show alongside business partners in the private sector which allows us to demonstrate the high quality e-business cluster the Isle of Man has built up, making us an attractive proposition for those in the industry looking for a one-stop shop.”
|Last Updated on Monday, 01 February 2010 10:41|