RECORD-BREAKING GROWTH IN EGAMING SECTOR
21 February 2023
- Digital Isle of Man announces record breaking new figures that show 79% increase in eGaming licences over the last five years
- There has been a 22% rise in eGaming jobs created in the sector over the last year, totalling nearly 1,000 jobs
- Digital Isle of Man returns to the ICE conference to meet innovative businesses and discuss the benefits of an Isle of Man eGaming licence and how the Government Agency can assist businesses looking to relocate or base their business on the Island
Digital Isle of Man has reported the highest number of eGaming businesses ever licensed in the Isle of Man. Digital Isle of Man, an Executive Agency within the Isle of Man’s Department for Enterprise, is responsible for supporting the Island’s existing ecosystem of diverse eGaming and software businesses as well as attracting new eGaming business to the Island. The Agency also supports the growth of on-island stakeholders, with dedicated partners working closely with gaming and ancillary businesses to facilitate job creation.
The Isle of Man has broken its eGaming records as it revealed that 75 licences have been granted by the Island’s Gambling Supervision Commission (GSC) – the greatest number of
licences ever supervised at one time on the Island, and a 15% increase on the previous year.
This is a remarkable 79% rise over the past five years, eclipsing the global eGaming market’s growth as it struggled through the pandemic.
The announcement comes as Digital Isle of Man today attends the International Gaming Summit (ICE) conference at the ExCeL, London.
The event, which runs until Thursday (February 9), brings together industry leaders, innovative tech companies and experts to discuss the latest developments in the egaming and technology world.
This exponential growth of the eGaming sector on the Isle of Man showcases its status as a hub for the industry. Couple the Island's favourable regulations, stable economy and digital infrastructure with low Corporation Tax, low Gambling Duty and no Capital Gains Tax, and you will understand why the Island is an attractive destination for eGaming businesses looking to expand.
Chief Executive of Digital Isle of Man Lyle Wraxall said:
‘I’m delighted to return to ICE this year off the back of what has been a very successful year for our eGaming sector.
‘A strong and robust licensing regime used to be seen by many as a barrier to doing business, but is now considered the Isle of Man’s USP, and I’m proud of the role Digital Isle of Man has played to help secure this unprecedented growth for the Island’s eGaming ecosystem.
‘The Isle of Man is at the forefront of the global eGaming industry and has proved just how resilient and adaptable it can be, demonstrating sustained growth for several years.
‘The industry is a significant contributor to our economy, and this latest milestone is a testament to the strength of the Island as an international tech hub.’
In 2001, the Isle of Man was one of the first jurisdictions in the world to introduce legislation specifically designed to benefit gambling and e-gaming firms and fully protect customers, and has established an excellent reputation as a leading regulatory jurisdiction for eGaming,
supported by its robust, mature and agile licensing regime, giving businesses prestige on the global stage.
The Island is proud to host many of the world’s leading gaming brands, including Flutter, Games Global, Ballys, Luckbox and Rivalry.
The Isle of Man’s regulator and government agencies stand ready to provide developing FinTechs with a platform from which to launch innovative solutions to some of the key challenges facing modern businesses, and to play their part in building the future of this unique island.