5Dimes, which is the former Costa Rica-based sportsbook, is now having its headquarter in the Isle of Man. After William “Tony” Creighton, the founder of the company, got kidnapped and murdered, in 2019, 5Dime refused to give up. It started to look for various ways to enter the nascent U.S. market. It has made a deal, along with the authorities of the U.S., to help them in the quest. The company has just received a license in the Isle of Man. The approval is giving it a new foundation upon which it can go on building its global footprint and take a huge step towards entering the market of the U.S.
The Isle of Man Gambling Supervision Commission has signed for 5Dimes’ license application this month. It is marking its way for the sportsbook, which is going to offer online sports gambling and casino products in the market on a local sphere. It is not approaching for direct access to the market of U.S., but it is allowing for the beginning of the company’s establishment as a player on the global scale. It can eventually be able to appeal to the regulators in the U.S after it demonstrates that it is conforming with the standard. Being a member of the World Trade Organization and a part of the Organization for Economic Co-operation and Development White List, the Isle of Man is working as the great launching point for 5Dimes.
Laura Varela, Creighton’s widow and a member of the 5Dimes Board of Directors, is talked about the license of Isle of Man, “This licensure is an exciting milestone for the 5Dimes brand. The Isle of Man is a Tier-1 jurisdiction, known for its advanced approach to gambling and e-gaming legislation and its exceptional reputation in the international gaming community. The Isle of Man sets high standards for its gaming operators and players, and we look forward to upholding the same level of principles and innovation with the launch of 5Dimes.”
5Dimes is now going to set up their shop in the Isle of Man. It is planting management and an operational team to oversee the launch of the company. Its establishment as being a legitimate operator among the other sportsbooks on a global scale was feasible only because of its deal with the U.S. authorities. The deal also included a payment worth $46.8 million towards the Department of Justice. The money came from both Varela and the company’s proceeds.
Varela thus adds up that this undertaking in the Isle of Man is the first step towards the relaunch of the 5Dimes brand with a legalized jurisdiction in the world. They are quite excited to welcome many of their old customers again and facilitate them with a top-of-the-line experience of gaming. They are keeping their eyes to set the opportunities for future expansion in the extra legal and regulated markets in the coming future.
Varela said, “This undertaking in the Isle of Man is a first step towards relaunching the 5Dimes brand in all legalized jurisdictions around the world. We are excited to welcome back many of our loyal customers to our top-of-the-line gaming experience while keeping our eyes set on future expansion opportunities in additional legal and regulated markets in the near future.”