Alderney Gambling Jurisdiction Shines
The Channel Islands has its own licensing and regulatory jurisdiction better known as Alderney.
The organization accountable for handling all gambling matters is the Alderney Gambling Control Commission (AGCC). Financials for 2010 has been publicised by the AGCC recently and it looks very positive. The island’s internet gambling industry generated a steady profit of £2.26 million and in licensing fees from internet casinos Alderney managed to earn £3.8 million.
John Beaman the chairman of the Policy and Finance Committee, recently wrote in the Billet D’Etat that the Island’s internet gambling industry is on the up. He wrote, “AGCC’s projected capital income looks rosy, however, we try our best to way in potential external factors that might impact negatively on Alderney and implement mitigating factors to handle these. As it is, we have a very competent and efficient management team who stays abreast with the latest technological developments that further enhances our revenue streams.”
The AGCC has earned a standing reputation within the industry and we strive to keep it this way. It understands that the environment is forever changing and it must adjust in order to remain competitive. The AGCC amended the Alderney eGambling Ordinance 2009 and its new policies came into effect as of April 1, 2011. From henceforth new regulations permit the AGCC to request that its licensees to slot in applications and software that is suitable to the commission.
The AGCC signed a Memorandum of Understanding in January 2011 with the Nevada Gaming Control Board establishing a good working relationship between the two organizations. The Memorandum of Understanding ensures that new information is shared continually between the two bodies as well as the set up of proper training facilities and so forth. Changes were also made to the licensing framework in January into a modular one that permits internet gambling operators to only apply for to those parts they need.
It goes without saying that Alderney is a shining example on how to properly tax and regulate internet gambling sites and how revenues generated could be utilised to benefit local communities. The licensing fees and other income earned from operators, sports betting sites and poker were used to revamp Alderney’s commercial quay, paid for an old age home and for a number of development projects. Beaman said that Alderney’s internet gambling industry has rubbed off on its neighbouring island of Guernsey in a positive way. “The benefit to the Bailiwick is its telecoms and server revenues generated by Alderney’s gambling industry are appreciated in Guernsey, which benefits us holistically,” he said.
The globe’s top software providers are licensed by the AGCC. They likes of International Game Technology whose casino software wing is WagerWorks and Virgin Games that manages an online casino, poker room and bingo hall.[addtoany]
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