Alderney’s Gambling Revenue Surges in Post-Pandemic Recovery
Alderney has reported a significant increase in profits from its gambling sector, with the Alderney Gambling Control Commission (AGCC) contributing over £2.3 million ($2.9 million) to the island’s coffers in 2023. This figure represents a notable increase of £636,000 ($812,340) from 2022, driven by a robust global resurgence in online gambling following the COVID-19 pandemic.
A Strong Year for Alderney’s Gambling Industry
The AGCC has been a pivotal entity in regulating online gambling for the States of Alderney since 2000, ensuring that the jurisdiction remains a top choice for international operators.
The increase in profits highlights the sector’s strong performance and its critical role in the island’s economy. According to local authorities, these funds have been earmarked for significant capital expenditures and operational enhancements.
Investment in Infrastructure and Services
Of the total revenue generated, £1.85 million ($2.36 million) is allocated for capital spending to bolster the island’s infrastructure, while over £496,000 ($633,523) is directed towards Alderney eGambling Limited (AeGL).
AeGL plays a crucial role in managing new licensing inquiries, which is fundamental to maintaining Alderney’s reputation as a premier gambling jurisdiction.
Financial Management and Fiscal Strategy
The island’s Policy and Finance Committee chairman, Nigel Vooght, reported that Alderney had successfully reduced its revenue budget deficit by more than half to £222,000 ($283,555).
This deficit reduction demonstrates prudent fiscal management and will be covered by the island’s accumulated reserves, which remain at a reasonable level. Vooght emphasized the importance of these funds in addressing the island’s primary care provision changes and enhancing the ambulance service.
A Hub for Offshore Gambling Operations
Alderney continues to attract major players in the global gambling industry due to its sophisticated technological infrastructure, strong legislative framework, and advantageous tax regime.
The island does not impose gaming taxes, VAT, corporate taxes, or capital gains taxes, making it an exceptionally attractive location for gambling operations.
