Vanuatu Casino License - MannBenham Interview at SiGMA 2024

CasinoLove recently had the opportunity to interview Miles Benham, the Managing Director of MannBenham Advocates Limited, and Frank Schuengel, the iGaming Licensing Specialist of MannBenham Advocates Limited. MannBenham Advocates Limited is a prominent company in the industry, best known for comprehensive legal services and expertise in corporate and commercial law, particularly catering to banks, trust and corporate service providers, e-businesses, and gambling organizations. The video is also available on YouTube.

Introduction to Vanuatu Licensing

In this interview, Miles Benham and Frank Schuengel delve into the intricacies of the Vanuatu casino license. Vanuatu, an island nation consisting of around 60 islands off the coast of Australia, has a unique history in the gaming sector. According to Benham, it was one of the earliest jurisdictions to provide gaming licenses, even before the Isle of Man, starting back in the 1990s.

Initially, Vanuatu's licenses supported bookmaking services targeted at Australian customers. However, as Australian laws evolved, so did Vanuatu's licensing framework. Today, Vanuatu has modernized its licensing and offers competitive tax rates, positioning itself as an appealing option for businesses.

What Makes Vanuatu Unique?

Benham emphasized that Vanuatu is a genuine jurisdiction with its own parliament and laws, which is a significant factor in its credibility. Unlike some licenses issued by protectorates or less formal bodies, Vanuatu's status as an independent nation is vital for ensuring long-term industry sustainability. This credibility appeals to businesses looking for a reliable license without compromising on quality or cost.

Schuengel highlighted that while the Isle of Man is known as the “Rolls-Royce” of licenses, not every startup can afford its high compliance costs. Vanuatu, by contrast, offers a cost-effective, legitimate solution for new businesses wanting to enter the market without an extensive budget. He pointed out, “It’s not just ‘pay and get your license’—there’s a thorough process including criminal background checks for license holders.”

Licensing Process and Benefits

The Vanuatu licensing process has gained traction due to its efficiency. According to Benham, once all due diligence is complete, including providing necessary documents like a passport, the submission-to-decision timeline can be as short as three to four weeks. This swift process is attractive for businesses looking to enter the market quickly.

For those concerned about player safety, Schuengel reassured that Vanuatu's license includes substantial regulatory checks. Additionally, the government regulates the licensing, while a private company manages administrative aspects, ensuring consistent quality control.

"In the past three months since its relaunch in Lisbon, nearly 100 licenses have been issued, showcasing its growing popularity."

This modern approach, coupled with a lower cost of entry, makes Vanuatu a strong contender for startups aiming to scale up gradually and potentially move to more comprehensive licenses, like those offered by the Isle of Man, as they grow.