by Renee Israel
The Isle of Man announced that it was hoping to go ahead with plans to amend
its decades old gambling laws in a bid to attract more tourists.
The island, located in the Irish Sea between Ireland and England, is a
reputable online gambling jurisdiction and licenses many operators.
However, the Isle of Man's Department of Economic Development is looking
inward and hopes to make changes to the island's Casino Act of 1986 which would
allow establishments to host live gaming tournaments.
If the Casino Act were amended, it would also mean changes to the Gaming
Betting and Lotteries Act of 1988.
The Minister for the Isle of Man's Economic Development, John Shimmin said
about the plans: "The Department has identified an opportunity to be able to
attract live gaming tournaments to the island, with all of the associated
economic benefits they will bring in terms of increased bet nights, spend in the
local economy and increased passenger numbers on aircraft serving the Island."
Isle of Man could Issue Temporary Gambling Licenses
Under the changes proposed, the Isle of Man's Gambling Supervision Commission
would be allowed to grant temporary gambling licenses so that organisers could
run tournaments at a wider number of venues across the island. At present, live
gaming tournaments are only allowed to be held at certain venues.
Analysts even believe that the World Series of Poker could be brought over
from Las Vegas, with the potential to attract over 800 visitors.
Minister Shimmin said that "the new line of business would, of course, be
regulated to a high standard in order to protect both players and the island's
reputation."
Plans for the Isle of Man expanded gambling laws come hot on the heels
of news that the Gambling Supervision Commission has agreed on terms for a
bilateral cooperation agreement with the Danish Gambling Authority.
In a press released issued by the Commission, it was stated that the
bilateral cooperation agreement would "establish a formal basis for cooperation
and information sharing between the Danish and Isle of Man gambling
authorities."
The statement also read that the agreement would be signed and formally
executed once the new Danish Gaming Act came into force. Steve Brennan, the
Chief Executive of the Gambling Supervision Committee signed the agreement.
In November, the Isle of Man Gambling Supervision Commission issued its
annual report.
