Move part of the company's wider strategy to expand its international customer base
Isle of Man-based lottery betting operator Annexio has announced it has been granted a licence to operate in Ireland, allowing players in the Irish Republic to try their legendary luck on Annexio's stable of online lottery games, including the US Powerball with its potential to reach jackpots of over $1 billion.
Annexio General Counsel Paul Telford said the move was part of the company's wider strategy to expand its international customer base:
"As a responsible operator and leader in its field, Annexio will seek to gain licences in other jurisdictions as and when they become available," he said.
"As well as opening up new markets, licensing gives our business long-term security and clarity around the compliance requirements in other jurisdictions. In a sector that is still to some degree an evolving market, with many jurisdictions yet to implement regulation, it is important to us that we operate at the highest standards and are recognised for doing so.
"Acquiring licences also means we are able to contribute to local economies through tax revenues and promotional activity while growing the bottom line of our business here in the Isle of Man. We anticipate making further announcements regarding other jurisdictions later in the year."
Annexio was established in 2011 and is headquartered in Douglas where it has a team of some 30 people. It specialises in offering players the chance to bet on some of the biggest lotteries in the world with the opportunity to win life-changing cash prizes.
Online Casino News Courtesy of Infopowa