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Home » Isle of Man Gambling Regulator Faces £778K Revenue Shortfall in 2025
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Isle of Man Gambling Regulator Faces £778K Revenue Shortfall in 2025

April 30, 2025No Comments3 Mins Read
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Isle-of-Man_s-gambling-regulator-facing-a-778000-funding-shortfallThe Isle of Man’s Gambling Supervision Commission (GSC) has projected a £778,000 revenue shortfall for the 2025–26 financial year, citing a continued decline in new gaming licence applications and an increase in revoked or cancelled licences. This financial gap was disclosed in a list of departmental revenue bids made public through the island’s 2025 Budget documents and confirmed by media outlets including Isle of Man Today.

The GSC, which depends on annual licence fees and revenues from new business applications to sustain its operations, expects to carry only 109 active licences into the new fiscal year—well below the Treasury’s earlier forecast of 148.

Drop in Licence Numbers and Application Failures

As of now, the regulator lists 84 online gambling licences, three bookmakers, five gaming machine suppliers, and a single casino licence holder. The shortfall stems from multiple factors, including an ongoing struggle to attract new operators. The Commission had originally anticipated securing 39 new licence applications in both 2022–23 and 2023–24. Instead, it received only 22 and 26 applications, respectively, falling far short of its targets.

This consistent underperformance led to significantly lower year-end totals: 89 licences in 2022–23 versus the expected 102, and 99 in 2023–24 compared to a forecast of 127. Reflecting this trend, the GSC has now adjusted its new licence projection for 2025–26 downward to 27.

Compounding the issue is an increase in the rate at which existing licences are being lost. Although the budget was built on the assumption of a 15% attrition rate, actual figures rose from 8% in 2022–23 to 17% in 2023–24. Over the past year, the regulator has cancelled or suspended 25 e-gaming licences while approving only 18 new ones.

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Regulatory Oversight and Market Perception

The GSC noted that some new applicants failed to meet regulatory standards, with seven applications rejected outright during 2023–24 and early 2024–25. These rejections reflect the Commission’s tightened approach to compliance, particularly following high-profile events like the police raids on King Gaming in April 2024. The GSC revoked King Gaming’s licence amid investigations into alleged international money laundering and fraud. This, the regulator admits, has complicated its efforts to attract new operators and could further damage the island’s standing as a favourable jurisdiction.

According to the GSC’s revenue bid, the creation of a dedicated enforcement unit within the Commission may result in increased fines and penalties for both current and former licence holders. While such penalties may contribute to revenue, they could also deter future applicants and prompt existing operators to reconsider their presence on the island.

Looking ahead, an upcoming evaluation by MoneyVal—the Council of Europe’s body overseeing anti-money laundering and counter-terrorist financing standards—is expected to further impact the pipeline of new business.

Leadership Shift and Strategic Response

In the midst of these challenges, the GSC has appointed Nicola Libreri as its new deputy CEO. A member of the Commission since 2018, Libreri has led the AML/CFT Division and brings extensive experience in compliance, enforcement, and policy development. She holds multiple diplomas from the International Compliance Association and is trained in blockchain analysis—skills that are increasingly important for overseeing digital and crypto-based gambling platforms.

Libreri’s tenure has already seen significant investment in compliance infrastructure, including specialised teams for outreach, inspections, and proportionate enforcement. Her appointment signals the Commission’s continued commitment to rigorous oversight while aiming to rebuild confidence among operators.

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Despite the current shortfall, the GSC appears focused on maintaining regulatory integrity and organisational stability. However, its ability to restore licence numbers and sustain revenue in the face of increased scrutiny remains a pressing concern for the island’s gambling sector.

Source: 

Isle of Man’s gambling regulator facing a £778,000 funding shortfall, Isle of Man Today, April 29, 2025

778K Faces Gambling Isle Man Regulator Revenue Shortfall
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