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Isle of Man enjoys growth in online gambling industry

The Manx eGaming Association, a group of Isle of Man-based remote gaming companies, has published results of a survey which shows employment within the sector rose by 18% in 2009 and is forecast to rise another 20% in 2010.

And taxes paid to the IOM government more than doubled to £11.2 million last year and are expected to reach £19.1 million this (2010) year.

The survey showed that taxes paid by the e-gaming sector more than doubled recently and are are expected to rise in the future.

According to MeGA's survey, island spending by MeGA members rose by 35% last year and is forecast to grow by 26% next year. However, while both total spending on the Isle of Man and taxes paid were higher than anticipated, employment growth was less than forecast by MeGA members.

MeGA members employ a significant proportion of people working in the sector and last year employee numbers increased by 18% although uncertainty in the economy, coupled with changes in policy by some members, meant that this employment increase was below that forecast.

Recent reports from members suggest that there is renewed optimism in the sector and this is shown by a forecast increase in employment of 20% over the next 12 months.

More than half of those people employed by MeGA members are Manx workers, so the sector is directly contributing to the economic welfare of local people. The multiplier effect means that their spending has a beneficial impact on many aspects of Island life.

Each year, since its inception in 2006, MeGA has conducted a survey of its members and considered other available information in order to analyse the development and needs of the e-gaming industry on the Isle of Man.

Source: InfoPowa News

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