Gambling firms show interest in moving to the Isle of Man

Isle of Man is drawing the interest of gambling firms.
Isle of Man is drawing the interest of gambling firms.

The Isle of Man has reported a surge of interest in global gambling companies looking to relocate to the island territory off the UK.

Isle of Man.- The self-governing British crown dependency of the Isle of Man has reported soaring interest from global gaming operators over the possibility of relocating their business to the island.

There are 55 licensees currently supervised by island’s Gambling Supervision Commission but it said it had received 21 enquiries in the last 12 months. That compares to just eight licence approvals in 2019.

The reasons for the increased interest is believed to be regulatory changes in other jurisdictions and the Isle of Man’s introduction of a new software supplier licence, which has proved appealing to businesses seeking strong regulation on player protection to appease banks and investors.