The Isle of Man has been named on the UK government's e-gaming 'white list,'
which will allow e-gaming companies based in the Isle of Man to market their
services in the UK.
“This is fantastic news and a real boon for the Isle of Man; reflecting
the UK’s recognition of the Island as a quality jurisdiction," commented
Garth Kimber, head of e-Gaming development at the Isle of Man Department of
Trade & Industry (DTI).
He continued:
“The UK white list is a crucial benefit to the Isle of Man. The UK's
Gambling Act 2005, implemented next month, will ban companies based outside
the EU from marketing into the UK. Having been added to the white list, companies
licensed in the Isle of Man will now be excluded from this restriction and will
be able to advertise into the UK for both the terrestrial and remote markets.
“Our inclusion clearly demonstrates that as well as being commercially
and technologically attractive the Isle of Man has established and maintained
good standards of legislation, regulation and probity similar to those required
by the UK in their jurisdiction. We have a high threshold on quality."
Kimber added:
“We are aware that a number of businesses have put decisions to locate
in the Isle of Man on hold pending the outcome of this announcement. Now this
issue has been resolved we expect to see renewed interest from these companies
who will hopefully progress with plans to invest here."
“The last few years have been dynamic for the industry and the sector
is growing rapidly. Within this the Island has proved itself as a premier jurisdiction
and today’s announcement offers us another opportunity to attract reputable,
responsible businesses in this sector."
Kimber concluded by observing that: “Any e-Gaming business locating in
the Isle of Man can expect not only full access to the UK market, one of the
strongest in Europe, but also the added benefits of 1.5% duty, 0% corporation
tax, a world class telecommunications infrastructure. This, coupled with the
lifestyle and strong record of flotation of companies from the island on the
AIM market, makes the Isle of Man a ‘must consider’ jurisdiction".