(AsiaGameHub) – The approval will allow PlaySmart to expand into B2C gambling services.
UK.- The Isle of Man Gambling Supervision Commission (GSC) has granted a licence to online gaming operator PlaySmart. The licence permits the company to offer business-to-consumer (B2C) gambling services under the island’s regulatory regime.
PlaySmart operates as part of the PlayGaming Group, which delivers platform solutions for the gaming industry. The Isle of Man licence is a key component of its strategic push into the B2C market, allowing it to provide services directly to players. The company plans to concentrate on scaling up its B2C offerings.
The application was supported by local iGaming consultancy SolutionsHub.
Nikola Trajkov, chief executive of PlaySmart, stated: “Securing an Isle of Man licence marks a significant milestone for PlaySmart. As we move into the B2C sector, it was crucial for us to partner with a jurisdiction recognised for its robust regulation and enduring stability.”
Lyle Wraxall, Chief Executive at Digital Isle of Man, commented: “We are delighted to welcome PlaySmart to the Isle of Man’s iGaming industry. The Island continues to draw innovative businesses that appreciate strong oversight, long-term reliability, and a cooperative environment. PlaySmart’s entry into B2C demonstrates the confidence technology-driven operators have in the Island’s regulatory structure as a foundation for sustainable growth.”
New Isle of Man gambling legislation
The lower chamber of the Tynwald, the island’s parliament, recently passed significant reforms to the Isle of Man’s gambling laws, approving changes proposed by the Legislative Council in the Gambling Legislation (Amendment) Bill. This paves the way for the bill to receive royal assent, anticipated this summer.
The legislative update aims to reinforce statutory regulations governing employment and economic activity within the gambling sector. Key elements include introducing a new “fitness and propriety” requirement for individuals involved in gambling operations, alongside establishing a civil penalty system to address regulatory violations.
The fitness and propriety assessment will incorporate competency and financial checks into the current character-based evaluations for operators. At the same time, the penalty framework empowers regulators to levy fines when breaches occur through consent, negligence, or deliberate involvement.
To assist with implementation, the GSC has initiated two public consultations, open until Monday, May 25, inviting feedback on both the revised standards and the penalty regime. These consultations build upon stakeholder discussions conducted throughout 2024.
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