A strategic review has been carried out into the future of the island’s beleaguered e-gaming sector.

The industry has come under significant pressure, and international scrutiny, over the past 12 months.

Reports by the United Nations Office on Drugs and Crimes have alleged the island had been infiltrated by global crime syndicates who were using businesses here to launder the proceeds of scam compounds in South East Asia.

Separately, a number of reputable e-gaming companies have surrendered their Isle of Man licences purely for commercial reasons.

The sector is facing new competition from places like the Caribbean island of Nevis and Anjouan - an autonomous volcanic island in the Indian Ocean - who are promoting themselves as an attractive option for operators seeking a gaming licence.

In a Tynwald question, Douglas North MHK John Wannenburgh asked whether a strategic review has been undertaken into the long-term viability of the e-gaming sector in the light of the surrendering of Celton Manx’s licence and other recent developments.

Enterprise Minister Tim Johnston acknowledged that in common with other jurisdictions, the island’s e-gaming sector has ‘faced a number of challenges in recent years, which have raised questions about its future’.

He said: ‘In response to these events, work began towards the end of last year to develop a refreshed e-gaming strategy, in close collaboration with industry.

‘The sector has matured since it was established 25 years ago, and the landscape for businesses, regulators, and jurisdictions has been required to evolve

‘The objective of the strategy is to support continued prosperity within the sector, recognising it remains a key contributor to the economy.’

He said an external consultant was appointed earlier this year to conduct a strategic review of the sector.

Mr Johnston said the outcomes of this review would inform the strategy and its supporting action plan, which will be published this month.