New legislation means minimum government return of £300,000 for licensees
A motion to renew the Island's only casino licence was approved by Tynwald yesterday (Tue).
Since 1986, the Gambling Supervision Commission has awarded a single licence for a maximum term of ten years - the current holder is the Palace Hotel and Casino.
The new legislation will ensure an increased minimum government return of £300,000 for licensees.
Economic Development Minister Laurence Skelly said it also opens up the possibility of a second casino: