Gregory Petts named Isle of Man GSC chair
Gregory Petts has been appointed chairman of the Isle of Man Gambling Supervision Commission (GSC).
Appointed by the Isle of Man Treasury, Petts becomes the latest senior arrival at the independent statutory board during 2025. Petts, a chartered accountant and auditor with experience in the gambling, finance and life assurance sectors, has been part of the GSC for five years.
As commission chairman, Petts’ role is to ensure that the GSC upholds regulation standards. He is also charged with ensuring accountability and oversight to ensure that the GSC balances the needs of the sector with the safety of the jurisdiction.
Petts replaces long-standing predecessor Jon Allen, who held the role for 15 years to November 2024. David Butterworth has filled the role on an acting basis since Allen’s departure.
The GSC said in a statement: “Gregory’s invaluable experience in internal audit, governance, risk and compliance will support the GSC in its regulatory duties.”
Assuming the role, Petts said he is committed to keeping the Isle of Man’s gambling sector safe and fair.
“It is essential to strike a balance, maintaining responsible growth of the sector and continuing to uphold a strong regulatory framework,” Petts said.
“Maintaining the Isle of Man’s international reputation as a trusted and respected jurisdiction is of the utmost importance.”
Petts’ appointment comes four months after Mark Rutherford, a long-serving member of the GSC’s management team, became new chief executive. The experienced Nicola Libreri became its new deputy CEO around a month ago.
Emerging global threats
Online gambling is the second-largest contributor to the Isle of Man’s GDP. Its low corporate tax rate on income derived from outside its borders makes it an attractive location for international businesses. Leading gambling groups based in the Isle of Man include Entain and Playtech.
The GSC is responsible for the governance of all gambling activities on the island.
Its regulatory objectives include ensuring that operators conduct gambling in a fair and open manner. It also aims to protect children and other vulnerable persons from harm and to prevent individuals from using gambling as a source of crime or disorder.
Petts’ appointment comes amid a series of initiatives designed to meet new and emerging global threats related to cybercrime.
Over the last 18 months, the GSC has made significant investments in strengthening AML/CFT oversight. These include creating standalone AML/CFT inspections, enforcement and outreach divisions and onboarding a new risk assessment tool, Strix. The GSC has enhanced risk-based supervision and, as a result of AML/CFT failings identified, issued civil penalties totalling £840,000.
Alongside this action, the GSC has increased outreach, providing more education, guidance and support in the form of webinars, drop-in sessions, guidance and fact sheets, working in collaboration with the sector.