The online gaming industry is continuing to play an important role in the island’s economy.

Chief Minister Howard Quayle told delegates at the 10th KPMG e-gaming summit that when the first summit was held a decade ago the e-gaming sector in the island looked very different.

’During that first summit year e-gaming accounted for 9.1% of sector share, a 41% growth on the year before.

’We will be shortly releasing our latest national income report and I can announce that today e-gaming has a 21% sector share in the island (economy).

’When combined with our other digital industries that figure increases to over 30%.

’Furthermore in the soon-to-be-published national income report, I can now give a sneak preview, and I can tell you that our overall island economy is now over £5 billion.

’That is over 60% growth since we all sat in this room for the first KPMG summit, and a 3.6% rise in real terms on last year.’

Mr Quayle said the e-gaming sector had doubled its share of contributions to GDP (gross domestic product) over the last 10 years.

He added that in 2010 there were 22 gaming licences that had been approved.

Now there are 43 licences approved by the Gambling Supervision Commission in the island.

Mr Quayle stressed it had not all been plain sailing and there had been local and national challenges that had to be navigated. ’Yet we retain a strong and confident economy and e-gaming has remained one of our shining stars.’

He said e-gaming had become a ’mature’ sector for the island and was always looking for new opportunities for growth. There had been huge technological changes and for instance three e-sports companies were now based in the island.

Russell Kelly, senior partner of KPMG in the island, which organises the summit said this year’s event had seen more than 300 people registered, the most for any e-gaming summit. ’It has been nice to look back on the last 10 years and see the success and the positive growth in e-gaming,’ he said.