A new long-term strategy for the island’s e-gaming sector is being crafted, a committee has heard.
The Department for Enterprise has acknowledged growing concerns over the future of the sector following the exit of 14 licence holders in the past 14 months.
Jason Moorhouse MHK, Chair of the Economic Policy Review Committee, asked, “One of the key areas of the economy is e-gaming. Do you feel it needs some additional support?”
Andrew Stewart, Interim Chief Officer at DfE, said: “I don’t think we try and diminish the challenges in e-gaming. They’re recognised. Yes, licences are certainly one measure, but it’s certainly not the be all and end all for the sector.”
He noted that some of the companies involved still maintain a “significant presence on the Isle of Man,” despite relinquishing licences.
Significant
Tim Johnston, Minister for Enterprise, reiterated the government’s support: “It’s still a significant sector, employing around about 1,000 people or supporting over 1,000 jobs.”
In light of global changes affecting the industry, a new long-term strategy is expected soon.
“The key for the e-gaming sector and our approach going forward is to take a step back and to look at a longer-term strategy… that’ll be bringing forward that in June,” Mr Stewart added.
Mr Johnston emphasised that a high regulatory standard remains a core strength: “Our high standards of regulation as a tier one jurisdiction, linking it back certainly to the digital sector, that’s an incredibly important part of our USP, and that’s something which we are very proud about, that our levels of regulation.”
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