Welcome Address
The Summit was opened by The Chief Minister, the Honourable Allan Bell MHK, for the second year. A long standing advocate of the eGaming industry and its benefit to the Manx economy, he again presented the Island as a strong and competitive jurisdiction. He called on delegates to build relationships, knowledge and collaboration between eGaming companies, service providers and the Manx Government in order to capitalise on the Island’s significant eGaming credentials.
Mr Bell began by extending a warm welcome to everyone on behalf of the Isle of Man Government and thanked KPMG for their hospitality in organising the event.
An Expanding Economy
Mr Bell said he is passionate about the economy and promoting business, explaining that the latest confirmed national income statistics for 2009/10 showed that the economy had grown by 2.1% in real terms. “This measurement was taken in the immediate aftermath of huge global upheaval,” he reminded the Summit. Eighteen months further on, the indications suggested that the economy had continued to expand with positive growth during the current year. He said the island had avoided recession. The unemployment rate was still very low, running about 2.1%, whereas the UK had an unemployment rate in excess of 8%, which reflected well on the collective effort everybody had shown on the island to maintain those figures. There was no budget deficit to contend with and, although the VAT situation had to be dealt with, this was under control at the moment. “We have our recovery plan underway and, so far, we are ahead of where we expected to be,” he stated.
eGaming at the forefront
This strong performance, Mr Bell continued, had been underpinned by the increasingly diverse nature of the Island’s economy, which now comprised considerably more than just a finance sector. It had been a deliberate Government policy over the last few years to diversify in to other areas. “eGaming, in particular, is one that is very much at the forefront of that,” said Mr Bell. “The Isle of Man should now be regarded as an international business centre that plays host to a range of successful business sectors, some of which are among the best in the world, including eGaming,” he added. The Isle of Man Government had developed and nurtured the eGaming industry from its humble beginnings and, despite some difficult times, had always been keenly focussed on what was important to the industry and to the players. “I am proud that we are home to some of the most influential names in the industry and equally proud that they are pleased to call us home,” said Mr Bell, highlighting the contribution eGaming companies made to the local community through TT and hospital charity sponsorship and in support of various sports team which benefitted young people. Within the gaming sector, Mr Bell emphasised that young people also received training and career development in areas such as IT, marketing, financial modelling, compliance, regulation and others that allowed them freedom to flourish. However, it was also important to maintain the reputation of businesses based in the island, so that player confidence remained high. “For those businesses that are transparent, well managed and play a central role, you will find a like minded partner in the Isle of Man,” said Mr Bell.
Allan Bell
Chief Minister
Isle of Man Government