Isle of Man issues record number of igaming licences in 2022
Total of 75 licences represents an increase of 15% on 2021 figures, with 1,000 more igaming jobs created on the island in the last year
Digital Isle of Man has reported record growth in the number of igaming businesses licensed by the island’s regulator.
The executive agency, which is part of the Isle of Man’s Department for Enterprise, reported that 75 licences had been granted in 2022 by the island’s Gambling Supervision Commission (GSC).
This represents, not only a record year but an increase of 15% on 2021.
In five years, the total number of licences awarded by the GSC has risen steeply by 79%, which is well ahead of the curve in comparison to global igaming growth.
In total, it is estimated that roughly 1,000 new jobs have been created in igaming over the last 12 months as a result of the licensing, an increase of 22% on 2021.
By obtaining a licence from the GSC, businesses benefit from favourable regulations, low corporation tax, low gambling duty and no capital gains tax.
Chief executive of Digital Isle of Man, Lyle Wraxall, said: “A strong and robust licensing regime used to be seen by many as a barrier to doing business but is now considered the Isle of Man’s USP, and I’m proud of the role Digital Isle of Man has played to help secure this unprecedented growth for the island’s igaming ecosystem.
“The Isle of Man is at the forefront of the global igaming industry and has proved just how resilient and adaptable it can be, demonstrating sustained growth for several years.
“The industry is a significant contributor to our economy, and this latest milestone is testament to the strength of the island as an international tech hub,” he added.