The licence was granted by the Isle of Man Gambling Supervision Commission (GSC) and sees an amendment to the Online Gambling Regulation Act to assist with the licensing of gambling software suppliers.
This move and the creation of a central register of approved software, which will be held by the Commission and licensed software providers, will allow products and services to be listed publicly and for registered games to be offered to players more efficiently.
As part of the application process, applicants are required to provide test certificates for their games or software and, in turn, the Commission will place these games on the register which will be publicly available for review.
Listing these games allows greater efficiency for gaming operators as they can now offer registered games to their players without having to duplicate the provision of a test certificates to the GSC and await approval.
Tony Ure, Head of eGaming at the Department for Enterprise, commented: 'This licence will help us streamline the processes for businesses and create consistency in the high standards we expect from both software suppliers and operator licensees.
'In this age of heavily regulated compliance, this licence promotes games fairness and allows software developers to forge partnerships with licensed operators safe in the knowledge that they are doing everything they can to ensure their games are fair.'
Jade Zorab, Head of Corporate Development for SMP Partners, said: 'We are extremely proud to have supported one of the first companies to be granted this type of licence which provides plenty of benefits. The time taken for operators to offer games to players will be significantly reduced and revenue streams will be attained much quicker, providing a significant competitive advantage.
'Importantly, holding an Isle of Man licence offers credibility in the market place and allows developers to strike deals with licensed operators all around the world. As such, we believe this development is a major step forward for both SMP eGaming and the Island's gaming industry, and further promotes the Isle of Man as a strong, forward-thinking and pro-active licensing jurisdiction.'
SMP eGaming Limited, is the eGaming division of leading corporate and trust services provider, the SMP Partners Group. It provides consultancy, managed services and training.