ell commented that it was “encouraging to see that Isle of Man based companies will have a much lighter touch approach and have been ensured continuity of business throughout the period of change.”
“Under the automatic transitional license Isle of Man based companies will have a streamlined point of entry and significantly reduced administrative costs when they obtain a UK license. In my recent conversation with Minister Penrose I received assurances that the UK Gambling Commission has no wish to duplicate the work that our Gambling Commission does in regulating our operators. It has been clear from my representations on behalf of Isle of Man operators to Minister Penrose that these provisions are a direct recognition of the confidence the UK has in our high standards of regulation and consumer protection,” he added.
“The eventual timescale for these proposals to enter into force are not yet determined and before the proposals become law we will remain in close dialogue with the UK Government to ensure that the interests of our sector continue to be heard. Alongside this the Isle of Man Gambling Supervision Commission will work with its counterpart in the UK to establish how they will work effectively together under the new regime.”
The Alderney Gambling Control Commission was also quick to respond. In a statement released this morning the AGCC said that it had “been assured that the extent of regulatory activity undertaken by the UK Gambling Commission in respect of non-UK operators, including those located in the EEA, will depend on the degree to which those operators meet the standards, enforcement, experience and level of cooperation with the UK Gambling Commission.”
AGCC Executive Director André Wilsenach described the developments in the UK as “good news for Alderney as we are committed to the highest standards of regulation and enforcement and to the greatest level of cooperation with other regulators.”
Clive Hawkswood, CEO of the Remote Gambling Association trade association said: “Now that the Government has confirmed its intentions, we intend to play a constructive part in the process to ensure that the new regulatory and tax regime will provide an environment where Government objectives can be achieved; where the industry can succeed commercially in the global online gambling market; and where the interests of consumers continue to be properly safeguarded.'
“The main players in the UK online gambling market are predominantly based offshore, but they already adhere to high regulatory standards which are comparable to those in Britain. Regulation by the Gambling Commission therefore holds no fears for our members, but a significantly higher tax burden that could lead to a reduction in value and choice for consumers certainly does. It is therefore clearly crucial that any new regulatory regime is complemented by a fair and sustainable fiscal regime. We look forward to working with DCMS, HM Treasury, and the Gambling Commission to ensure that all of these issues can be successfully addressed.”