Alderney has received more than £2.3 million ($2.9 million) in profits from the Alderney Gambling Control Commission in 2023. The amount was £636,000 ($812,340) more than in 2022 due to a “strong rebound by the online gambling sector worldwide” from the Covid-19 pandemic, the States of Alderney said.
The Alderney Gambling Control Commission has regulated online gambling on behalf of the States since 2000. According to BBC, the island has allocated £1.85 million ($2.36 million) to capital spending and just over £496,000 ($633,523) to States-owned Alderney eGambling Limited (AeGL), which takes new inquiries about licensing in Alderney.
The island’s capital spending budget was £1.5 million ($1.9 million) in 2023. Policy and Finance Committee chairman Nigel Vooght said the island had more than halved its revenue budget deficit to £222,000 ($283,555). The deficit would be met from accumulated reserves which remain at a “reasonable level”, said Vooght.
The deficit was attributed to the additional costs associated with the change in ownership of the island’s primary care provision in 2022, together with the need to create a robust ambulance service, he said.
Alderney, although administered by the British Crown, has established a solid and independent system for issuing Alderney Gambling licenses offshore. This has led to many of the world’s largest offshore casinos and bookmakers being based in Alderney.
In addition to being a popular jurisdiction to obtain an offshore gambling license due to its advanced technology base and robust legislation, Alderney is also attractive for its competitive tax system. There are no gaming taxes, VAT, corporate taxes, or capital gains taxes on the island, making the jurisdiction particularly attractive to the gambling industry.
Original article: https://www.yogonet.com/international/noticias/2024/05/28/72367-alderney-received-29-million-in-profits-in-2023-from-gambling-commission
