Alderney Gambling Control’s income rises by £750k in 2023

Neha Soni October 21, 2024

Alderney Gambling Control Commission’s income was up by £750,000 in 2023, reaching £4.38 million for the year, boosted by a strong rebound in the online gambling sector across the world post-Covid.

The commission registered nine new licences and certificates over the year, including the first licences from pari-mutuel horse-racing betting. Pari-mutuel horse-racing betting is a system that pools all bets placed on a race and the losers’ stakes pay the winners, which is said to be at the forefront of artificial intelligence use in the betting sector.

Moreover, while the commission hired more staff, the staff costs were reduced by £200,000 from the previous year. The company paid a total of £2.35 million as dividend to the States of Alderney, up £600,000 on the year. It has now paid over £40 million to the public purse in the island since the commission was established in 2000.

Chairman comments

AGCC Chairman Lord Faulkner said, “The recovery of the gambling industry brought fresh opportunities in 2023, where notably Brazil introduced national gambling regulation for the first time, with other neighbours set to follow suit.

“We will continue to ensure the provision of platforms and services from an Alderney base can complement these new domestic licensing regimes.”

The annual report outlined how the commission supported Guernsey’s preparations for the Moneyval inspection. The Guernsey Financial Services Commission released its 2023 annual report which included a wide range of topics, including the commission’s preparations for a 2024 MONEYVAL inspection and a ruling from the Royal Court. “We believe that we can show a well-resourced supervisory approach of the highest quality, one that is tailored to risk,” Lord Faulkner said.

The chairman, who has secured another term of office by the States of Alderney, said the commission’s objective was to offer “robust, enlightened, active regulation” that was responsive to a changing industry.

“In this way, the commission aims to protect players, to ensure the continuing high reputation of Alderney as a jurisdiction and to establish a regulatory environment which attracts operators who seek a comprehensive, pragmatic and well-respected regime supportive of operator needs.”

AGCC regularly collaborates with local and international regulators and acts as an adviser to regulators and lawmakers in other jurisdictions. “Alderney has proven experience in establishing and maintaining a robust, business-friendly online gaming jurisdiction, and plays an active role in international regulatory bodies,” Lord Faulkner added.

In related news, Alderney eGambling, the promotion arm of the industry, reported a surplus of £10,000 over the year, reversing a shorfall in 2022.