|The Isle of Man will issue a further nine licenses for online gaming operators, taking the total to 12. The decision comes after the Administration, Legislation and Gambling Section of the Department of Home Affairs for the Isle of Man expressed their surprise and delight at the quality of the applications and companies bidding for the original three proposed licenses.|
The first three licenses will be named on the 20th Sep, with one of them possibly going to entertainment giants MGM Mirage. The Department will seek approval of the other nine licenses from the Tynwald, the Isle of Man’s parliament, hoping they will give approval in the October session so the licenses can be considered in November.
The Department released a statement saying, “The unprecedented demand for licenses is a result of the Isle of Man Government having put in place a strict regulatory regime which is attracting large casino operators who have been searching for a safe well regulated base to operate their proposed online casinos.”
Work still remains for the Isle of Man in implementing the new regulations and extensive background checks on applicants has taken longer than expected. Companies may have to wait for the opportunity to set up operations on the island but there seems to be no shortage of interest from the gaming fraternity.