Isle of Man registered gambling giant GVC Holdings is pleased with the impact it is starting to make in the rapidly growing United States market, which has been expanding since sports betting regulation was liberalised there.

GVC’s empire includes Ladbrokes and says in its latest trading update there has been an ’encouraging start in the US’ following the launch of its BetMGM mobile app in New Jersey.

The announcement by GVC comes hard on the heels of the recent declaration of a mega merger plan by industry rivals, the owners of Paddy Power and PokerStars.

Gambling firms have been involved in a scramble for new business with a lot more increased activity in the States since sports betting regulation was liberalised in the country following a supreme court ruling in May, 2018.

Paddy Power Betfair owner Flutter Entertainment already has operations in America including Fanduel and TVG.

PokerStars owner The Stars Group recently launched FoxBet in the US.

And the recent announcement of a planned mega-merger between Flutter and The Stars Group is almost certainly going to see competition hotting up as firms seek further footholds in the US gambling market.

Speaking after Flutter announced details of the deal, which will need approval from shareholders and regulators, Peter Jackson, chief executive of FTSE listed Flutter Entertainment, stressed that it would allow the group to grow in all key markets, Europe, the US and Australia.

Industry insiders in the Isle of Man believe the island could play a key role in the future of the gambling industry given that GVC is incorporated here and PokerStars, the world’s largest online poker outfit, is based here and is one of the island’s largest employers.

As chief executive of KPMG’s islands group Micky Swindale, told Business News after the recent e-gaming summit: ’Suddenly the Isle of Man looks very significant on the world stage.’ GVC, which has a registered office in Athol Street, Douglas, has announced its third quarter trading update just days after the Flutter/Stars Group joint declaration,which, if successful is set to create the world’s largest online gaming operation. GVC chief executive Kenneth Alexander said: ’The launch in September of the BetMGM app in New Jersey, powered by the GVC technology platform, is a key milestone, and our US sports-betting joint venture with MGM Resorts remains very well-placed to capitalise on the US sports betting opportunity.’

GVC said online growth means the gambling firm’s earnings for 2019 will be higher than previously forecast but held firm on plans to shut 900 stores over the next two years.

The gambling giant, which also owns Coral and Foxy Bingo, said earnings have been bolstered by stronger-than-forecast revenues in UK high street retail stores despite the impact of new legislation for fixed-odds betting terminals (FOBTs).

Over the counter wagers in UK betting shops jumped 7% in the third quarter in the aftermath of the crackdown on betting machines, the company said.

Mr Alexander said: ’Online momentum remains strong across all major territories, with net gaming revenue up 12% in the quarter despite the prior period containing part of the World Cup.’

Gaming expert Warwick Bartlett the chief executive of Castletown-based Global Betting and Gaming Consultants, believes the US links are important. He says in his view the Flutter link up with The Stars Group ’has been driven by the opportunity in the US to grab as much market share as possible in what is potentially the largest e-gaming market in the world, and regulation.

’Both in Europe, and the prospect of having to license on a state by state basis in the US.’ Chief minister Howard Quayle likened e-gaming as a ’shining star’ for the island.