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Alderney benefits from £1.7m government injection

Alderney benefits from £1.7m government injection

Tuesday 30 May 2023

Alderney benefits from £1.7m government injection

Tuesday 30 May 2023

£1.7million of profits generated by the Alderney Gambling Control Commission (AGCC) has been transferred into the island’s bank account.

The figure was revealed after the island’s 2022 Annual Report was presented to the Policy & Finance Committee.

The AGCC has injected £37.7million into the States of Alderney since its inception in 2000 and has been described as “an excellent business that benefits our Island economy”. 

Speaking on the transfer, PFC Chair, Nigel Vooght said: “It is pleasing to hear from Lord Faulkner that we are seeing an uptick in applications from gaming businesses that hold the AGCC in such high regard.” 

Lord Faulkner is the Chairman of the AGCC and said 2023 should be an even more impressive year. 

“The figure for 2022 was £1.7 million and current prospects show this should rise to over £2 million in 2023. AGCC is a top-tier gambling regulator with standards and practices that others can only aspire to.” 

Alderney continues to maintain a strong position facilitating the eGambling community. The States of Alderney said the AGCC works with Guernsey’s Financial Intelligence Unit and the Financial Services Commission. 

It said “Alderney has proven experience in establishing and maintaining a robust, business-friendly online gaming jurisdiction and plays an active role in international regulatory bodies such as the Gaming Regulators European Forum (GREF) and the International Association of Gaming Regulators (IAGR)”. 

“The AGCC report noted sustained growth in markets such as Canada and Latin America together with further transformations in the United States, particularly in online gaming regulation.  

“As jurisdictions worldwide move towards national regulations, AGCC’s ability to enable and regulate rest-of-world activity in pre-regulatory environments gives established operators the ability to develop their businesses, offering customers safe and secure products that meet international best practices.” 

Pictured top: (R-L) Lord Faulkner and Mr Vooght.

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