Decline In Casino Business Licenses For AlderneyDavid Burgundy | 04 Jun 2020
The Alderney region of the Channel Islands, and a British Crown dependency, has seen a drop in the number of casino licenses issued last year according to the 2019 annual report. Regulatory authority for the region, the Alderney Gambling Commission says it saw gambling business licences decrease to just 33 in 2019 when compared to the 53 issued in 2018.
Less Complaints Received Too
Throughout the 2019 year, the Alderney Gambling Commission renewed 27 of the licensees on its record while issuing another six new licenses. This too is down from the previous year with eight new gambling business licenses issued by the regulatory authority in 2018. 2019 saw a number of casino licenses lapse including subsidiaries of a number of gambling giants such as International Game Technology, Inspired Entertainment and the NYX Gaming Group. Gambling companies Genting and Cashbet also did not renew their licenses in the region.
The year also brought less complaints against its licensees, with the regulator having to deal with just 23 official complaints, which is down from 2018 where 39 complaints were lodged with the Alderney Gambling Commission. Despite the complaints received, the Commission said that no regulatory hearings were needed, and no special investigations were launched into its licensees and as a result no businesses received any sanctions.
The region does however put a strong focus on regulatory compliance. It carried out 33 business inspections throughout the 2019 year to ensure compliance with anti-money laundering controls, from which some 86 remedial measures where called for by the regulatory authority.
A Drop In Income For the Alderney Regulator
Due to the drop in the number of casino licenses issued in 2019, a drop in revenue for the Alderney Gambling Commission can also be expected. The Commission announced that it had seen a 18.7% annual decrease in licensing fees, with the regulator taking in £4.0m in licence fees for 2019. In addition to the licensing fees, the company also added to its revenue with £10458 in bank interest and over £500,000 in fees charged to clients. The total earnings for the year for the Alderney Gambling Commission dropped a dramatic 35.1% to £2 million as expenses all grew. Despite seeing a decline in conference and travel costs, postage, stationery, telephone, and consultancy costs, the Gambling Commission’s total expenses grew 4.5% to £2.6 million in 2019.