THE announcement that billionaire Sir Richard Branson is moving his online gaming division to Guernsey has been welcomed by Commerce and Employment.

Virgin Games will transfer from London from September in a move that is costing more than £1m.
‘Alderney has built a worldwide reputation for its online gaming regulatory regime and that island benefits directly from the fees charged for the licences it issues,’ said a Commerce and Employment spokesman.

‘Online gaming’s use of telecoms capacity has encouraged both Cable & Wireless [Sure] and Jersey Telecom [Wave] to expand links to Guernsey and the whole Bailiwick benefits from this increased capacity, resilience and price competition.

‘Virgin Games’ announcement that it is to establish a physical presence in the island, with staff recruited locally, will add to these benefits by further expanding our economic base into new areas and providing diverse job opportunities,’ she said.