Compliance Updates
Isle of Man Sees Unprecedented Demand in Licence Applications From Global Online Gambling Businesses
The Isle of Man has seen a huge increase in demand from global gaming operators amid proposed changes to regulation and structure in some jurisdictions.
Initial enquiries, sparked by uncertainty about the impact and scope of jurisdictional and political changes, and positive follow-up discussions have seen service providers on the Isle of Man report an uptick in enquiries from businesses wanting to relocate to the Island over the last 12 months.
There has been a thirty per cent increase in demand this year with the number of licensees to be supervised by the Gambling Supervision Commission now at 55 with several more in the pipeline, an increase of 21 in last 12 months, in comparison to 8 licence approvals in 2019.
The recent regulatory changes in alternate jurisdictions, combined with the Island’s handling of Covid-19 and the introduction of a new software supplier licence has contributed to a significant surge in the number of applications as businesses seek strong regulation around player protection providing comfort to banks, PSP’s and investors.
Steve Brennan, Chief Executive of The Isle of Man Gambling Supervision Commission, comments:
“We are exceptionally busy at the minute processing a significant rise in the number of applications for online gambling operators.
We continued to work throughout lockdown, and over the last 10 months, we have received or completed a considerable number of applications. By the time we have closed those out and added recent applications, we will have 60 licences to supervise.”
Speaking on why operators are choosing the Isle of Man, Jade Zorab, Director of Amber Gaming, responded:
“The Isle of Man has proven to be at the forefront of the more notable eGaming jurisdictions over the years. It has a combination of a stable political and economic environment, low tax and advanced IT infrastructure in addition to a cluster of experienced and reliable professional organisations – all of which has created a compelling proposition for eGaming companies both locally and further afield.
“The Island also offers a flexible licensing regime with a pragmatic and efficient regulator, which is especially valuable during a time where there is so much global uncertainty and regulatory changes in several other jurisdictions which brings the prospect of significant operational challenges. Given the Island’s strong reputation and open and innovative approach in the evolving gaming landscape, the future outlook is positive and it is no surprise that the Isle of Man is experiencing an influx of eGaming ventures, which we are proud to support.”
Lyle Wraxall, Chief Executive at Digital Isle of Man, adds:
“A key strength of the Isle of Man is its commitment to the development and continued success of the eGaming companies domiciled here. Digital Isle of Man supports this by striving to build and maintain solid foundations for our Island businesses to flourish, offering quick fire advice and tackling obstacles to ease business decisions and burdens along the way.
We have strong heritage and credentials in the eGaming sector and are renowned for our premium regulation which is becoming more and more important to businesses. As businesses licensed elsewhere seek security and continued business growth, the experience and expertise based in the Isle of Man is the logical next step for businesses to mature and grow.
The Isle of Man has a track record of being a safe and secure place for businesses to grow, and boasts a confident, stable economy, with no market restrictions, ensuring minimal disruption to business progress and opportunities.”
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Booming Games, a rapidly expanding provider of iGaming content, has successfully secured a Danish Gambling Authority (Spillemyndigheden) license, marking a major milestone in the company’s efforts to broaden its presence across Europe.
Booming Games has officially secured its B2B gaming license from the Danish Gambling Authority (DGA), enabling the company to supply its renowned content to licensed gambling operators across Denmark. Danish players can now enjoy popular titles such as Burning Classics, TNT Bonanza, Cash Pig, Buffalo Hold and Win Extreme, and Gold Gold Gold.
This achievement marks a significant milestone in Booming Games’ strategic expansion into the European market. By obtaining the DGA license, the company strengthens its position as a leading iGaming content provider and unlocks new opportunities within the region. With the Danish license complementing its existing portfolio of certifications, Booming Games is poised to deliver outstanding gaming experiences to players throughout Europe.
Frederik Niehusen, Chief Commercial Officer at Booming Games, said: “We are excited to announce the acquisition of our full Danish B2B gaming license. This milestone further expands our presence in the fast-growing Danish market. It positions us to leverage our strengths and enhance our product portfolio to meet our customers’ needs better.”
The post Booming Games Receives Danish License Approval appeared first on European Gaming Industry News.
Industry-leading provider secures license to provide slots and live content in Denmark
Award-winning casino content provider Stakelogic has obtained a license from the Danish Gambling Authority, Spillemyndigheden, to provide its gaming content in Denmark.
The license will allow Stakelogic to bring its premium portfolio of online casino slots and live dealer content to the Danish market, including recent releases like Fire and Gold Cluster Breaker, Super Wheel Game Show, Trident of Legends, and The Watcher.
Stakelogic is able to partner up with leading Danish operators, establishing itself as a must-have provider in the country. The move further highlights Stakelogic’s commitment to strengthening its position in the European market and exploring new and exciting regulated markets.
The license also further cements the company’s presence in the Scandinavian markets, having secured a license from the Swedish authority, Spelinspektionen, in 2023 and establishing itself as a popular provider among Swedish players.
Denmark is one of Europe’s fastest-growing markets, with a strong focus on customer care and responsible gambling. Stakelogic is proud to have met all the requirements needed to obtain the license, highlighting its commitment to providing players with the best and safest gaming experiences.
Stephan van den Oetelaar, CEO at Stakelogic, said: “Denmark is one of the fastest growing markets in Europe, and we are proud to have achieved a license to the newly regulated market.
We are grateful to Spillemyndigheden for their support in us and we are excited to take our next steps into the market.”
The post Stakelogic Secures License to the newly regulated Danish market appeared first on European Gaming Industry News.
Charles Counsell OBE has been appointed as Interim Chair of the UK Gambling Commission (UKGC) for a nine month term which will commence on 1 February 2025.
Charles was Chief Executive Officer of The Pensions Regulator from April 2019 to March 2023. Prior to this he was CEO of the Money Advice Service, and Executive Director of Automatic Enrolment at The Pensions Regulator.
As CEO of The Pensions Regulator, Charles developed the new corporate strategy to put the pension saver at the heart of the Regulator. He delivered their first Equality, Diversity and Inclusion Strategy and Climate Change strategies – both focused on driving change in the regulator and across the Pensions Sector.
Throughout his career, his roles have focused on setting up and delivering large change programmes requiring significant stakeholder relationship engagement: initially in the private sector and latterly in senior public sector appointments.
The post UKGC Appoints Charles Counsell OBE as Interim Chair appeared first on European Gaming Industry News.
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