CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Isle Of Man To Change Online Gaming Laws

Isle Of Man To Change Online Gaming Laws

by Amanda Banks, Tax-News.com, London

29 November 2001


The Isle of Man online news service has reported that the government is under pressure to amend newly introduced legislation governing online gambling following complaints from the Island's clearing banks which charged that the three international casino operators who were awarded licenses in September are enjoying preferential treatment.

The three operators are: UK betting and gaming company, Littlewoods Leisure; MGM MIRAGE, one of the world's largest hotels and casino groups; and SunOnline Ltd., a division of Sun International Hotels Ltd.

According to IOM Online, the Financial Supervision Commission, on behalf of the banks, expressed their concerns at a recent meeting of the Council of Ministers.

The government refused to elaborate any further but in a written statement, a spokesman for the Council of Ministers said: 'One or two questions of detail were raised about how the Anti-Money Laundering Code would be applied to online gambling, which is a new and different industry and is regulated by the Gambling Control Commissioners. A way forward to resolve those issues has now been agreed and the Island continues to lead the world in the regulation of this type of activity.'


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »