eGaming Case Study: A Q&A with Magnus Grinneback

We recently caught up with CEO of Mayfly Entertainment, Magnus Grinneback, who shared his experiences living, working and licensing an gaming business in the Isle of Man.

How long have you lived on the Isle of Man and what made you move here?

I have been on the Island for 2.5 years. The company I work for had established a corporate structure and a license on the Island a couple of years earlier and we decided that it was time to also put some boots on the ground and build a local organisation here.

How would you describe it to someone who has never been?

My wife, who is a kiwi, likes to describe it as a slice of New Zealand in the middle of the Irish Sea. While there are differences (weather and wine are definitely in New Zealand’s favour) I think it is pretty accurate. The Island is green with plenty of fresh air, people are really friendly and there is really easy access to both the sea and the mountains.

How was your experience moving to the Isle of Man?

For me it was very easy – I am Swedish so I have an EU passport which made things extremely simple. For my wife it was a little more challenging and she needed to go through the standard application process which includes going through the UK system. This is not necessarily difficult but it takes some time. Thankfully we did get support from the Department for Enterprise in the process.

It has been largely the same for the staff that we have brought over. Anyone with a UK or a European passport is extremely easy to get across but for people from further afield it takes more work.

What difference has living on the Isle of Man made to your work-life balance? How do you spend your free time?

Previously we lived in Kuala Lumpur in Malaysia so this is obviously about as different as it can get. I find that I spend much less time travelling to and from work which is welcome. I also find that I can use lunch breaks to go for runs along the sea which is pretty priceless. The work itself is not so different – once you are in the office it makes no real difference where you are and most of my day is spent in remote video calls.

Since coming to the Island me and a colleague have started a small whisky distillery (for more information, see www.manxwhisky.com) which takes up a lot of my time. I also enjoy running and biking around the Island. If I, against all odds have any additional time I spend it cooking with the excellent produce that is available on the Island.

What opportunities has living on the Isle of Man given you /your family?

For us the biggest difference is that we can live out in the country side where it feels like you are in a different universe and yet be in central Douglas in 15 minutes.

Why would you recommend the Isle of Man to others looking to relocate and what would be your top tips?

Get out and enjoy all the local events – food festivals, excellent theatre productions, insanely long walking competitions, agricultural festivals (yes!) and tin bath races. Go for walks – there are so many fantastic walks here so get out there. Prepare a mini staycation on the Calf of Man. Very basic in terms of the facilities but really relaxing and absolutely stunning.

Why did you choose to licence your business in the Isle of Man?

It was a combination of many things. The experienced regulator, access to banking and data centres as well as favourable licensing cost and overall taxation are some of them.

How would describe the benefits to locating your business in the Isle of Man?

On of the largest advantages is the support we get from the government and the professionalism of the regulator. We know that we can approach any part of the government when we have issues and we will always get whatever support that they can offer.

How would you describe the support ecosystem on the Island, including ease of access to ancillary services and government?

See above – very straightforward and approachable.

How has being on the island / licensed in the Isle of Man enabled the business to grow?

This does perhaps sound a little boring but one of the most important parts is simply stability and predictability. We know what the regulations are and if there are changes we get notified and, in many ways, also consulted before things happen.

What has been your experience of the business community on Island?

Very positive and welcoming.

What reservations did you have about moving to the Island?

Not much on a personal level. After many years living in mega cities in Malaysia and China we were very much ready for something completely different. The weather is perhaps something that is not a strong selling point for the Island but once you learn to adapt your schedule around the weather forecast it is not much of an issue. Plus it makes the log burner all the nicer.

Visit our eGaming page for more on licensing or locating your online gaming business in the Isle of Man.