Written On  4/10/11 By staff writer  Lenny Wasman :

Channel Island jurisdiction earned GBP 3.8 million last year

The Channel Island licensing and regulatory jurisdiction Alderney earned GBP3.8 million in licensing fees during 2010, figures released by the Alderney Gambling Control Commission reveal.

Writing in April's Billet D'Etat, Policy and Finance Committee chairman John Beaman said the island's e-gambling industry  made a profit of GBP 2.26 million, and showed every sign that it would continue to prosper.

"The anticipated capital income from the AGCC looks secure, although it will always be exposed to the risk of detrimental external factors beyond Alderney's control," Beaman wrote. "We are fortunate to have a commission and management team that is very much in tune with developments that are likely to affect our revenues."

E-gambling cash has contributed to the redevelopment of Alderney's commercial quay and paid for a new care home, among other capital projects.

Beaman said the e-gambling industry was also benefiting the neighbouring island of Guernsey. "The benefit to the Bailiwick of the very substantial telecoms and server revenues generated by Alderney's gambling industry is now becoming increasingly recognised in Guernsey, which is to our advantage," he wrote.