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Digital Isle of Man has proposed that the Manx International Lottery would see an exclusive licence issued to an operator under new primary legislation with an annual licence fee set by the Treasury.
The proposal has been shaped through collaboration from Digital Isle of Man, the Treasury and the Isle of Man Gambling Supervision Commission. As per the proposal, the operator would be solely responsible and accountable for the operation of the lottery, guaranteeing prize amounts and ensuring payouts.
“The development of a Manx International Lottery could be a positive opportunity to raise the profile of the Isle of Man around the world, raise valuable funding for charitable projects, and generate additional income for the Manx taxpayer. The development of this new product would also further diversify the growing digital economy here in the Isle of Man, showcasing the innovation and commitment to the sector as well as adding local jobs and expertise,” Laurence Skelly MHK, Minister for Enterprise said.
“There are a number of ‘national’ lotteries around the world, so we are issuing this initial notice as an exercise to fully understand the feasibility of this new product and the potential of the market,” Laurence Skelly added.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Digital Isle of Man Seeks Input on Proposals to Develop Manx International Lottery
