Jersey Telecom spends £15m to host gambling websites

Jersey Telecom says it has spent £15m preparing for online gambling.

It has invested the money despite the States not yet agreeing the full details for regulating the industry in Jersey.

The company has spent the money on data-hosting centres, a move it said was in anticipation of the States decision.

Tim Ringsdore, from Jersey Telecom, said: "We are very confident in the future of this new industry."

Economic Development Minister Senator Alan Maclean said opening Jersey to the industry would provide extra income for the States.

Guernsey and Alderney have both hosted internet-based gambling companies for several years.

Last month the States of Jersey agreed to allow internet firms to be licensed in the island.

However consumer protection regulations still need to be approved and measures put in place to combat money-laundering.

The minister has written a proposition to establish the regulation and licensing rules for online gambling in Jersey and is awaiting a date to be set for the debate in the States.