Annexio has confirmed plans to voluntarily surrender its B2C online gambling license issued by the Isle of Man Gambling Supervision Commission (GSC). The move comes as the company responds to rising compliance demands and growing customer acquisition costs across multiple jurisdictions.
Headquartered in Fort Anne, Douglas, Annexio described the decision as part of a broader operational realignment. CEO Tom Brodie noted that while the company is adjusting its regulatory approach, it remains firmly committed to its Isle of Man roots and will continue to support its local workforce of around 50 employees.
Annexio launched LottoGo.com in 2018 and was founded in 2012.
Regulatory Landscape Tightens on the Isle of Man
The announcement follows the Isle of Man’s first standalone Terrorist Financing National Risk Assessment (TFNRA), which upgraded the online gambling sector’s risk level from “low” to “medium,” placing it on par with the banking industry.
Justice and Home Affairs Minister Jane Poole-Wilson said the island is determined to play its role in combatting global criminal networks, reflecting a tougher regulatory stance overall.
Industry Shake-Up Continues: License Surrenders Mount
Annexio is the second betting firm in less than four months to walk away from its Isle of Man licence, joining a growing list of operators rethinking their regulatory affiliations. In total, 14 firms have surrendered their licences so far in 2025.
Earlier exits include PokerStars, while Celton Manx, operator of SBOTOP, was fined £3.9 million for anti-money laundering breaches even after relinquishing its licence in May. The GSC also banned Boldwood Software owner Phua Cheng Wan from the sector following an enforcement investigation.
These moves are placing strain on the GSC’s projected revenues. The Commission initially expected 148 active licences to roll into the 2025–26 fiscal year, but that estimate has dropped to 109, with just 80 online gambling licences currently active.
Shifting Regulatory Hubs: Britain, Jersey, and Australia
Looking ahead, Annexio will concentrate its operations in Britain, Jersey, and Australia’s Northern Territory—jurisdictions where it will retain active licences. Brodie reaffirmed the company’s continued emphasis on compliance and its longstanding relationship with the Isle of Man GSC, stressing that the licence surrender reflects an operational pivot, not a change in values.
“Our roots are here, and they remain here,” Brodie said. “We’re still committed to the island and will continue contributing to its economy.”
