|According to reports from a Guernsey based news agency, the online casino and gaming industry in the region is growing rapidly following the fallout from the passing of the Unlawful Internet Gambling Enforcement Act (UIGEA) in the US.|
Guernsey based company the Kensington Corporation, which advises Internet firms on gaming licences, has reported a surge in business since the UIGEA enforcement and feels that a United States government crackdown on the industry could work to its advantage as American companies look to set up abroad.
“While the changes in US legislation are significant, they had been well trumpeted in advance and most of our clients are outwardly focussed and seek revenues from the rest of the world,” explained Kensington Corporation managing director Norson Harris. “Significantly, a number of enquiries received recently are from US companies looking for a European base.”
Kensington has advised 24 of the 29 successful applicants in the region to date and acts for 21 of the current 25 ‘live’ gaming licences, including Tribeca Tables, WagerWorks and Paddy Power.
“We are delighted to have become lead provider of administration services to the Alderney gaming sector,” added Mr Harris, who also advised on the draft gaming law. “There’s continuing growth in the market and the Alderney commission will continue to deploy stringent regulation over these businesses.”