Online gambling sector subject to more 'rigorous scrutiny' than ever before

Government responds after damning Bloomberg report

The Isle of Man Government says the online gambling sector is now smaller, more tightly regulated and being subject to more ‘rigorous scrutiny’ than at any point in history.

It follows a scathing investigation by American firm Bloomberg which, this month, published an article titled: “How a Tiny British Island Fell Into an International Gambling Scandal”.

You can read it HERE.

The report, looking at online casinos which Bloomberg described as ‘a liability’, focusses heavily on King Gaming Ltd and the subsequent fallout.

Charting what it sees as the history of the company rising to prominence on the Island it questions whether Manx government watchdogs were ‘dangerously inattentive’.

In 2024 the company’s licence was revoked by the Isle of Man Gambling Supervision Commission whilst a criminal investigation was carried out.

It’s believed this investigation is ongoing.

“In many cases it’s not clear if the government’s ignorance was wilful or naïve.” Bloomberg  

It’s not the first deep dive into the company, and the role of the Manx Government, by investigative journalists.

In December last year The Financial Times highlighted what it described as ‘serious questions’ about the due diligence carried out by the Isle of Man Government in relation to King Gaming.

Chief Minister Alfred Cannan, and his alleged links to a recruitment firm reportedly linked to the company, feature in the Bloomberg report.

He told Manx Radio the Island is ‘tightening up’ in a number of areas:   

Manx Radio invited the Isle of Man Government to respond.

In a statement it said: “Organised crime targeting online gambling is not unique to the Isle of Man.

“It is a challenge facing jurisdictions across the world, from established financial centres to major economies.

“What defines a jurisdiction is not whether it has been targeted but how it responds.

“Our response has been clear and deliberate.

"Police action in April 2024 has led to a large and complex investigation against King Gaming and subsequently other operators too.

“The Isle of Man's online gambling sector is now smaller, more tightly regulated, and subject to more rigorous scrutiny than at any point in its history. 

“In 2025 we published our National Risk Appetite statement setting out clearly that the Isle of Man has limited appetite for online gambling operations owned or controlled from East or Southeast Asia.

“We are also strengthening our immigration framework to ensure that the intracompany transfer route cannot be exploited in the way this case illustrated. That work is under way.

“The Isle of Man's anti-money laundering standards are robust and reviewed regularly against international benchmarks.

“We take our international obligations seriously.

“We act when action is required.

“And we are building the regulatory and enforcement framework that reflects the complexity of the threat landscape we all face.”

The Isle of Man Government adds it is unable to comment on any ongoing criminal investigations and no financial support has been provided, either directly or indirectly, to King Gaming.