Annexio to surrender Isle of Man gaming licence

Decision comes due to 'changing market realities'

Douglas-based Annexio Limited is to cease taking bets under its Isle of Man gaming licence and wind down the platform operated under the Island's licensing regime, due to what it calls changing market realities.

The company, which is based in the Fort Anne on South Quay, says the surrender of its B2C online gambling licence issued by the Isle of Man Gaming Supervision Commission is part of a strategic realignment of its regulatory structure.

Annexio will continue to be headquartered in Douglas, employing around 50 local staff.

Annexio says the decision to surrender its Isle of Man licence follows a thorough business review in light of evolving market dynamics, including the rising cost of compliance and customer acquisition across multiple jurisdictions. 

Tom Brodie, Chief Executive Officer, says the company's roots remain in the Island and it's fully committed to the Isle of Man as its operational base, and to supporting the local economy long-term.

Mr Brodie told Manx Radio: "While the Isle of Man Gambling Supervision Commission maintains high regulatory standards—which we’ve always respected and complied with—the decision to surrender our licence is not a reflection on the GSC itself. The Isle of Man remains a well-regarded jurisdiction, but the cumulative cost and complexity of maintaining multiple licences globally has led us to streamline where operational overlap exists.

"This was a strategic business decision, driven by a combination of factors including customer acquisition trends, technology integration, and operational efficiency across markets. We are not singling out the Isle of Man as being more onerous than others, but rather making a broader move to consolidate under fewer regulatory regimes where our commercial footprint is most active.

"We continue to value our long-standing relationship with the GSC and are proud of the compliance culture we built during our time as a licence holder here."

Annexio Group continues to hold active B2C licences under the UK Gambling Commission, the Jersey Gambling Commission and in Australia's Northern Territory. These jurisdictions will remain the company's primary regulatory bases going forward.