Interview: Jersey open for eGaming business

Interview: Jersey open for eGaming business

Tuesday, February 17, 2015 Totally Gaming

Changes to UK gambling laws and the introduction of its own modern licensing system have made Jersey the newest kid on the block in the remote gambling market. With reportedly more than 100 companies applying for a licence in the Crown Dependency in the last few months, asked Senator Philip Ozouf, Assistant Chief Minister, about Jersey’s fledgling eGaming industry. Jersey recently awarded its first online gaming licence. What have been the steps towards this landmark?

Philip Ozouf: “The Jersey Law that was passed in 2013 and the removal of the UK whitelist in November 2014 has created an opportunity for Jersey to become a jurisdiction for companies to licence their software in, and the first eGaming licence was approved in January.

“The changes to UK laws have made Jersey a relevant jurisdiction that is now operating on a level playing field. Jersey now aims to become the premier, Tier One regulated eGaming jurisdiction for software licensing.” What is Jersey’s gambling industry at present?

PO: “There is currently only one eGaming company based in Jersey, which provide lottery and scratch card games and have 160 clients. It is not currently significant from a tax or employment perspective but it represents an innovative element of our growing digital sector which is developing every day. We also have a long-standing, regulated terrestrial industry that is made up on betting shops, race track and gaming machines.” Is Jersey's government supportive of the gambling industry? Does it have any worries about association with the gambling industry?

PO: “We are supportive of any appropriate, well-regulated, innovative business. We recognise that gambling can affect some people adversely and we have taken proportionate and measured steps to make sure that they are protected.” Why is Jersey a good destination for gambling companies?

PO: “Jersey’s high regulatory standards are very appealing to the eGaming world, because the nature of their own business requires extremely high standards of internal regulation in order to maintain their ability to trade and their share price. Jersey is well known for offering the best quality regulation in the world and we have recently invested significantly in our connectivity and infrastructure, rolling out fibre island-wide.

“We also fully comply with international standards with IMF and FATF, which provides further reassurance as to the quality of our offering. The experience that we have built up in regulating financial services will hold us in good stead as the eGaming sector develops because of the synergies between both industries’ requirements.”


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