Isle of Man GSC Cancels Gambling Licenses for King Gaming Limited and Dalmine Limited

On July 24, the Isle of Man Gambling Supervision Commission (GSC) announced the cancellation of two gambling licenses belonging to King Gaming Limited and Dalmine Limited, both embroiled in controversy for months.

License Cancellations

Both operators were licensed under the Online Gambling Regulation Act 2001 — King Gaming on June 13, 2017, and Dalmine on October 16, 2019. Their troubles began on April 24, 2024, when the licenses were first suspended.

• The GSC stated that the cancellations were made in the “public interest.”

• The decision took immediate effect, rendering both licenses inactive.

• The Commission said there would be no further public comment until the matter is fully resolved.

Police Investigations and Arrests Made

King Gaming and Dalmine are tied to Jade Tree Ltd, with Dalmine serving as its B2B branch. Another company, Soteria, linked to cryptocurrency operations, was also drawn into the investigation.

• Police raids were conducted at business premises on Bucks Road and Victoria Road in Douglas.

• Seven arrests were initially made on suspicion of fraud and money laundering, with all individuals later released on bail.

• By July, police confirmed 10 total arrests, though no formal charges were disclosed.

The investigation is being led by the Isle of Man Constabulary’s Proactive International Money Laundering and Investigation Team, in cooperation with IOM Immigration Services.

Expansion Plans Gone South

Before the scandal, King Gaming Limited had unveiled ambitious plans for a massive 10,000 m² “KG Campus” on the Isle of Man.

• The campus was designed to include offices, wellness centers, restaurants, penthouses, and 66 luxury apartments.

• The project aimed to relocate hundreds of Asia-based employees to the island, marking one of its largest private investments.

• The project’s page listed Jade Tree Ltd as the client, but its status is now “confidential.”

With both companies stripped of their licenses and a fraud investigation underway, the future of these expansion plans remains uncertain.

The cancellation of the licenses and ongoing investigations signal a critical turning point for the Isle of Man’s regulatory and business environment, underscoring the government’s firm stance on transparency and financial integrity in the gaming sector.