|Kerzner International Ltd, has announced that it is to pull the plug on its online operations in the Isle of Man. One of the biggest players in the I-gaming industry, Kerzner believes that there simply isn’t enough profit to be made in online gambling.|
Kerzner was awarded a licence to operate Internet casinos back in September 2001 and started operations in December that year. Yet despite having the supposed advantage of a brand name working for them Kerzner are less than satisfied with the short term results reaped by the venture. Instead they plan to focus on other options that guarantee bigger profit such as their Ocean Club and the Atlantis luxury resorts in the Bahamas.
The main difficulty for Kerzner has been operating a highly regulated site in direct competition with numerous sites that still go without tight regulation. This doesn’t bode well for the other major operator in the Isle of Man, MGM Mirage. However MGM remain resolute that their venture will succeed in the long term.
Alan Feldman, MGM spokesman, emphasises MGM’s commitment: 'We've known this is a long-term play and an investment in the future. We can show the technological model we're developed is sound. If one is looking for short-term results, though, you'd have to come to the conclusion (Kerzner) came to today.'