Online gaming brand 5Dimes has announced the launch of its online casino and sports betting services in the Isle of Man following the issuance of a gaming license by the local gaming authority.
The launch comes after 5Dimes agreed to forfeit over $46.8 million in proceeds to resolve criminal investigation in September of 2020.
The settlement with US Dept. of Justice freed the company to once again explore the possibility of global expansion.
And now with a license issued by the Isle of Man Gambling Supervision Commission, 5Dimes can establish an international operation in both the online casino and sports betting markets.
However, while the license allows the brand to operate in multiple jurisdictions across the globe, it doesn’t include the United States.
Speaking of the news, Laura Varela, Member of 5Dimes Sportsbook’s Board of Directors said:
“This licensure is an exciting milestone for the 5Dimes brand. The Isle of Man is a Tier-1 jurisdiction, known for its advanced approach to gambling and e-gaming legislation and its exceptional reputation in the international gaming community. The Isle of Man sets high standards for its gaming operators and players, and we look forward to upholding the same level of principles and innovation with the launch of 5Dimes.”
The brand will now look to establish a management and operations team on the Isle of Man before relaunching globally.
Varela went on to add:
“This undertaking in the Isle of Man is a first step towards relaunching the 5Dimes brand in all legalized jurisdictions around the world. We are excited to welcome back many of our loyal customers to our top-of-the-line gaming experience while keeping our eyes set on future expansion opportunities in additional legal and regulated markets in the near future.”
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.