Isle of Man Thrives: 1

There was a recent newspaper report that stated that new jobs will be a reality for the Isle of Man in the very near future due to growing online casinos. The Isle of Man Today reported that in the past three years the online casino industry is responsible for bringing the island over 360 jobs. There have been an increased amount of online casinos and internet gambling software providers that have moved onto the island which have also helped boost their economy. According to the article, there are 13 license holders in the island with eight new licenses that were issued in 2008 alone. The future of the island is looking very bright with over twenty applications being reviewed for approval by The Gambling Supervision Commission.

The reason why online casinos are moving on to the island may be due to the fact that they have such low duty rates. The global economic climate may have pushed several online casino heavy hitters to make the move of their headquarters to avoid further financial damage. The head of the e-gaming development along side the department of trade and industry have all said that this is a change that the companies had to do in order to operate with a new set of rules. Some of the better known online casinos that have made the big move to the Isle of Man include Fasbet and NYX Interactive. The growth of the island is not limited to the online casino industry. The whole island is affected by the new business boom.