The Minster for Economic Development in the Isle of Man commented on the islands’ online gambling industry. During the comment he noted that he is pleased with online gambling on his Island and the positive effects that it has had on their economy.
John Shimmin, the Minster of Economic Development for the Isle of Man said in his comments that due to the rapid growing success of online gambling in his Island he will be putting forth a new budget that will help the industry grow to new heights. Internet gambling is considered to be an electronic business on the Island, it is one of their largest industries accounting for 1,500 of the jobs for citizens on the Island and 14% of their total tax revenue.
Mr. Shimmin continued on by saying, “If the Isle of Man continues to perform as well as it has been we will be able to have a secure economy within a world where the majority of economies of struggling to remain a float. The economy is said to grow by four percent by the end of the year and the evidence confirms those speculations. We expect to remain as a growing industry for online gambling until 2020.”
Part of the profits made from online gambling will be used to help local business. The government will help these local businesses attract more customers. Mr. Shimmin also hopes that the island will become more of a tourist zone.