Another firm surrenders Isle of Man gaming licence but says “our roots remain here”
Annexio Limited plans to retain its HQ on the island along with licences in other jurisdictions.
UK.- Douglas-based Annexio Limited has announced that it intends to formally surrender its B2C online gambling licence. It said it had decided to voluntarily hand its licence from the Isle of Man Gambling Supervision Commission (GSC) as the result of a strategic realignment of its regulatory structure amid “changing market realities”.
Annexio was founded by CEO Tom Brodie in 2012, and it launched LottoGo.com back in 2018. According to Isle of Man Today, the company conducted a business review due to market dynamics and the rising cost of compliance and customer acquisition in “multiple jurisdictions”.
It plans to remain in Douglas, where it has around 50 staff, and the company intends to maintain its licences from the British Gambling Commission, the Jersey Gambling Commission and in Australia’s Northern Territory. These will be its main regulatory bases.
Brodie said: “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.”
He added: “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.”
Last month, the GSC indefinitely banned Phua Cheng Wan, the owner of Boldwood Software, from participating in any regulated gambling activities on the island. The igaming platform provider held an Isle of Man licence from November 2022 until May 2025 but voluntarily gave it up after receiving an Enforcement Report and Notice from the regulator.
The regulatory decision comes as the Isle of Man’s gambling framework faces scrutiny, particularly over white-label operations. In July, the GSC imposed a £3,937,500 civil penalty on Celton Manx, the operator of the SBOTOP sportsbook for multiple anti-money laundering (AML) compliance failures.
Celton Manx had already surrendered its Isle of Man licence back in May. A few days later, it was confirmed that TGP Europe, which ran SBOTOP in Britain under a white-label agreement, had surrendered its British licence after the Gambling Commission said it would have to pay a £3.3m fine, also for AML breaches.
