The Isle of Man Government has announced that it has granted two cutting-edge eGaming companies, Fasbet and NYX Interactive, with licenses allowing them to operate from the self-governing Crown dependency.
Swedish firm NYX stated that it would establish a network hub on the island offering customers a variety of games including bingo, lottery, casino, poker and sportsbetting. All games and financial transactions are to be operated, regulated and controlled on the Isle of Man and the firm stated that it intends to establish a long-term substantial business.
In contrast, new proposition Fasbet is a business-to-business betting exchange platform for ‘white-label’ clients utilising the concept of shared hosting and software as a service. It stated that it was attracted to the island with a population of 800,000 due to the existing infrastructure along with the clustering of available service providers. Fasbet’s business processes will also be handled on the island and the firm stated that it expected to quickly establish an office with permanent staff.
“I am delighted that, through close co-operation between departments within Government, and with the private sector, we have been able to attract two leading eGaming companies and further demonstrate our ability to respond to the needs of a dynamic and challenging industry,” said David Cretney, Minister for the Department of Trade and Industry.
The Isle of Man is in the middle of the Irish Sea at the centre of the British Isles and has its own Parliament, Government and laws. Over recent years it has had one of Europe’s fastest growing economies, led by the international financial services sector attracted by the jurisdiction’s competitive tax regime, professional expertise, world-class telecommunications infrastructure and sound financial regulation.
“The addition of Fasbet and NYX Interactive to the Isle of Man’s eGaming stable reflects the island’s position as a premier jurisdiction of choice for the eGaming sector,” said Garth Kimber, Head of eGaming Development for the Department of Trade and Industry.