Microgaming Key Contributor to Isle of Man Economy

A new report published by the Manx eGaming Association shows how important the industry is to the Isle of Man's economy. One of the biggest contributors to this industry is Microgaming, one of the world's foremost gaming software developers.

The report shows that the online gambling sector employs 900 people on the island, with an average salary of over £50,000 a year.

The economy also made up 13.5% of the island's national income in the 2012/2013 period, according to the Isle of Man Today publication.

The number of people employed by the industry will rise by up to 8% this year, predicts the chairman of the Manx eGaming Association, John Webster.

One of Island's Biggest Contributors

Microgaming is one of the biggest Isle of Man based online gambling companies, occupying the three storey MGS House in the heart of the town's financial and commercial district.

Recently, Microgaming rolled out plans to add another building to house its growing team of employees. The new 5 storey building will sit adjacent to MGS House and the two will be joined by a tower walkway.

According to the CEO of Microgaming, Roger Raatgever: "Since we set up our global head office on the Isle of Man in 2001, we have grown at an incredible rate. We now have over 160 people in our building here on the island, and we expect this number to grow significantly over the next few years. The establishment of a new building not only shows our commitment to the island, but our commitment to look after our staff, to create an office environment that is employee-focused, suited to our fun and energetic culture, and that fosters innovation and creativity."

The new building is expected to be finished by 2017.

Growth Potential of Established Companies

The future looks bright for Microgaming and other large companies on the Isle of Man.

According to the latest industry report, those large companies with an established presence on the island "display the greatest growth potential, both in terms of staff numbers and infrastructure investment, strong reasons for ensuring that the business and living environment on the island remains attractive to them."

The report also warns the Isle of Man government to continue to promote its attractive tax benefits for these companies, noting that the new UK egaming laws have had an impact on the island.