Altostratus Limited, an Isle of Man-based firm, has submitted a proposal for the development of a new casino in the British Crown dependency’s capital. The project would see a new property established at the Middlemarch site in Douglas.

Altostratus’ project envisions turning the site into a six-story casino building packed with a gaming space, a bingo hall, a sports bar and multiple offices. The company’s project would also create 25 apartments and would see the rooftop turned into a garden for the residents.

The company has also planned multiple parking spaces around the building, allowing casino goers, office workers and residents to comfortably park their vehicles.

For reference, the Middlemarch site in Douglas is located between Fort Street, Lord Street, Walpole Avenue and Victoria Street. The property is owned by the Manx Government and is currently being used as a parking lot.

The Casino Would Enhance Douglas’ Appeal

If the project is approved, the Palace Hotel & Casino, currently sitting on Douglas Promenade, will be relocated to the new property.

The casino itself would be located on the first floor. In addition to that, Altostratus’ project also envisions a sports bar and a bingo hall, allowing the property to engage a variety of players.

The upper floors will have multiple offices, allowing enhancing the business value of the building.

According to Altostratus’ plans, the entrance to the casino and the planned office space would be on Victoria Street.

As mentioned, the building would also sport 25 apartments on the topmost three levels of the building. The entrance to the apartment part of the complex would be on Lord Street.

Proponents of the new property believe that it could become a central hub for festivals, races and holiday markets. Some have even suggested that an ice rink could be set up outside the property during the winter holidays.

Overall, the project has the potential to enhance Douglas’ appeal and sustainability and, thanks to its office space, would create opportunities for local businesses, nurturing the economy.

Earlier this year, Altenar set up a new office in the Isle of Man which complemented the growth of the company and allowed it to capture new talent.

A month earlier, Crucial Compliance also opened an office in the British Crown dependency.

The post A New Casino Project Would Breathe Life into Isle of Man’s Capital appeared first on Keno Wizard.

In recent years the Isle of Man has become an increasingly important hub for online casino and sportsbook operators and for casino software and content providers, mainly thanks to its reputable licensing process.

In fact, an operator which holds an Isle of Man B2C License can be regarded as a trustworthy entity as it must stick to strict rules and regulations in order to obtain the aforementioned license. Authorities in this jurisdiction also offer B2B licenses, with top providers like Yggdrasil already applying and obtaining such certification.

There are major changes happening to iGaming jurisdictions all over the world, but the Isle of Man license has remained a symbol of reputation for online casino operators, certifying their compliance both with industry standards and legal requirements.

Moreover, any operator holding an Isle of Man B2C License is required to safeguard the deposits of players and make sure they receive their winnings if they prove to be true and fair.

Operators holding a license in the Isle of Man are also required to uphold principles of fairness, transparency, and security, making sure that they protect the interests of all parties involved. License holders have to submit reports to the Isle of Man Supervision Commission every three months, and in those reports they have to include vital information in regard to Anti-Money Laundering/Combating the Financing of Terrorism reporting, as well as financial data.

Access to Multiple Markets

Holding a license in the Isle of Man allows online casino and sports betting operators to enter multiple markets on different continents, including Asia, Africa and South America. These are pre-regulated markets which can be very lucrative for operators.

Moreover, the Isle of Man has a special status, and it can offer appealing financial incentives, which include corporation and capital gains tax of 0%. Dividend taxes are also non-existent in this jurisdiction.

Operators licensed in the Isle of Man can choose any software provider they like with no restrictions whatsoever, and they are also free to pick between the numerous payment service providers available on the market.

In general, an operator which applies for a license in the Isle of Man should not have to wait more than twelve weeks between making the submission and the actual hearing regarding the respective license.

Among the most popular online casinos which hold an Isle of Man B2C License we can mention 188Bet Casino, 5Dimes, Luckbox Casino, King Dice Casino, CasiYou Casino and Spin-Ace Casino.

Source: “The Crucial Role of the Isle of Man B2C License“. European Gaming. September 11, 2023.

The post Online Casino Licensing Process in the Isle of Man appeared first on Keno Wizard.

EveryMatrix, a global provider of business-to-business (B2B) solutions and content for the online gambling industry, expanded further its global footprint by securing a new license. The company confirmed on Monday it was awarded an international B2B software license from the Isle of Man, allowing it to expand significantly its services and technology to new markets around the world.

Securing a license from the Isle of Man Gambling Supervisory Commission is a significant recognition for EveryMatrix. This license enables the company to enter new partnerships and join forces with operators around the globe. As a result, EveryMatrix is expected to continue growing further, tapping into existing and emerging markets around the globe, delivering its leading titles to new audiences.

Additionally, the license itself recognizes the company’s dedication to compliance with some of the highest regulatory standards. This complements EveryMatrix’s solutions and services and their scalability, as well as flexibility.

Nathan Lunt, Isle of Man’s strategic partnership manager, digital, was excited to see EveryMatrix secure an international B2B license for its solutions and services. “The Isle of Man is home to a collection of successful and diverse eGaming and software businesses and this is a testament to its proposition which offers an experienced regulator and robust, mature licensing regime,” he said.

“We are delighted to welcome EveryMatrix to the Island’s ecosystem.“

Nathan Lunt, strategic partnership manager, digital Isle of Man

The License Expected to Fuel EveryMatrix’s Growth

Speaking about the gambling landscape at the Isle of Man, Lunt said that the jurisdiction is home to some of the most-recognizable operators within the iGaming vertical. Additionally, he pointed out that such a license brings benefits for the operators that can continue to grow their presence and expand significantly. Finally, Lunt said that it is delightful to see EveryMatrix secure the latest license.

“The Isle of Man is one of iGaming’s most reputable licensing regimes and we are pleased to have been granted a software license to further accelerate our expansion into new territories.“

Ebbe Groes, CEO at EveryMatrix

Ebbe Groes, EveryMatrix’s CEO, was similarly excited about the recent license secured by the company. He noted that the Isle of Man is recognized globally for its high regulatory standard. At the same time, Groes predicted that the license will accelerate EveryMatrix’s expansion.

The CEO spoke about the company’s growth within the sports betting and casino vertical. Finally, he explained that the license marks a milestone moment for EveryMatrix as it represents a key point in its growth plan.

The post EveryMatrix Secures International B2B License from Isle of Man appeared first on Keno Wizard.