The Isle of Man has approved sweeping reforms to its gambling framework, with the Gambling Legislation (Amendment) Bill passing its final stage in the High Court of Tynwald. The House of Keys endorsed amendments from the Legislative Council, marking the conclusion of the parliamentary process.
With new legislation, standards around the gambling industry’s employment and economic participation have new tougher requirements, whose primary aim is improving regulatory quality in the gambling industry.
The legislation creates a new requirement for individuals engaged in gambling operations, that requires these individuals to meet a ‘fitness and propriety’ standard for their participation in gambling operations.
The new legislation includes a civil penalty framework to provide additional authorities for regulatory enforcement of civil penalties against persons found to be in violation of regulations promulgated under the new law. Additionally, it provides further accountability to the entire industry through civil penalties for persons who are culpable by virtue of their consent, or collaboration with the party that violated previously existing regulations.
To support this new law, the Gambling Supervision Commission has established two public comment periods, which will run until 25th May 2026, that will provide an opportunity for input regarding the new fitness requirements and civil penalty framework.
Treasury Minister Chris Thomas has guided the new law through the House of Keys and expressed gratitude for the collaborative nature of the new law, while also recognising the contributions of the various industry stakeholders and regulators in shaping the legislation.
Treasury Minister Thomas further acknowledged the amendments put forth by Ms. Lord-Brennan, Mr. Clueit, and Mrs. August-Phillips, which had previously been made in the drafting of the law and were based on comments made by industry stakeholders during the multiple consultations conducted with the various industry stakeholders.
As noted previously, the commissioning of the late 2022 gambling assessment by the Gambling Supervision Commission identified a money laundering risk classification for the Isle of Man’s gambling industry as being “medium high”.
The new legislation will become effective in the summertime of this year.
