Isle of Man experiences influx of new applications, businesses

There is a growing number of fresh applications and companies looking to establish themselves in the popular eGaming licensing jurisdiction, the Isle of Man.

Digital Isle of Man, the government agency tasked with attracting new businesses, said that it had partially achieved its goals of creating 200 new jobs and bringing the total number of active online gaming licenses to 90 by 2023.

It was revealed during the yearly Digital Isle conference that, at the time of the presentation, 72% of the job goal and 93% of the license target had been accomplished. More than 100 license holders are presently listed on the Isle of Man GSC website, suggesting that the licensing goal may have been achieved since the event.

The island is now seeing a revival of eGaming because of changes in legislation in rival nations and higher compliance requirements. Many operators view this as a wise investment. Particularly Asian companies are becoming more prevalent in the Isle of Man.

A new headquarters for 300 employees, including 100 who will be able to live on-site, is set to be the “largest single private investment in the Isle of Man,” according to technology business King Gaming. The operator of the SBObet brand, Celton Manx, has expanded and now operates a live dealer casino studio on the island.

Even while the Isle of Man is seeing an increase in business, a number of operators have lately surrendered licenses, suggesting that the stringent regulations may be difficult to follow, especially for those who are not accustomed with such systems. The island is nevertheless a sought-after destination for eGaming businesses despite the obstacles.

Original story by: Asia Gaming Brief