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NEW B2B E-GAMING LICENCE LAUNCHED IN ISLE OF MAN

Thursday July 21,2011 :  Isle of Man Government launches new Network Services Licence.
 
The Isle of Man online gambling jurisdiction has introduced a new class of B2B licence.
 
The Network Services Licence is a new level of licence available under the existing Online Gambling Regulation Act 2001 (OGRA) and is designed to recognise the business-to-business relationships that many gaming operators now have.
 
The licence gives Isle of Man based gaming operations the opportunity to make their platforms available to business customers around the world.
 
The cost of the new licence is GBP 50,000 per year plus GBP 5,000 per overseas customer. Duty will be paid on retained profit at a maximum rate of 1.5 percent, a spokesman revealed this week.
 
It is anticipated that this new business model will not only attract new and larger businesses into the Isle of Man but will also increase opportunities for those businesses already based on the Island to develop relationships with companies across the globe.
 
The government's e-Gaming Development Team is already talking to a number of interested parties, the spokesman revealed.
 
Commenting on the launch, Garth Kimber, head of e-gaming development at the Isle of Man government said: “The introduction of this level of licence gives us the ability to satisfy every model of gaming business in the Isle of Man from those selling their platform capabilities to other businesses to those with direct customers. Our system is now in three tiers; Network Services Licence, Standard Licence and Sub-Licence.
 
"The level of licence required is dictated by the type of business-to-business relationships a company intends to pursue and covers all gaming activities from sportsbook to poker and involves the same application process.
 
“The creation of this new licence demonstrates our ability to keep pace with the dynamism of the e-gaming industry without over complicating licensing. There remain many activities such as software downloads and marketing for example, which can be carried out without the need for a licence as we are focussed on the key issues of regulation, protecting players by ensuring their funds are protected and that games are fair."
 
Financial assistance is available for e-gaming companies creating economic value in the Isle of Man through the Department of Economic Development.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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