Compliance Updates
Annexio to Surrender its Isle of Man Online Gambling Licence
Annexio Limited has announced it is to surrender its B2C online gambling licence issued by the Isle of Man Gambling Supervision Commission.
The decision follows a thorough business review in light of evolving market dynamics, including the rising cost of compliance and customer acquisition across multiple jurisdictions.
The surrender of the licence is a voluntary step taken by Annexio in the normal course of business to reflect changing market realities.
“We are proud of our long-standing partnership with the GSC and of the compliance culture we have built here. This move reflects a shift in our operational strategy, not a departure from our values or from the Isle of Man itself,” said Tom Brodie, Chief Executive Officer of Annexio.
While the company will cease taking bets under its Isle of Man licence and wind down platform activity under that regime, Annexio will continue to be headquartered in Douglas.
“Our roots are here, and they remain here. We remain fully committed to the Island as our operational base and to supporting the local economy for the long term,” added Mr Brodie.
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