MANDALAY Gaming Holdings has been granted a gaming licence to launch a new bingo platform and XBingo site.

The licence was granted by the Isle of Man Gambling Supervision Commission 12 weeks after the application was filed.

The new platform will target the international online bingo markets and XBingo is the first of many brands which Mandalay hopes to launch on it.

XBingo will run alongside the group's existing successful UK-facing Costa Bingo, Sing Bingo, City Bingo and Fancy Bingo brands.

Richard Skelhorn, the co-founder of Mandalay Gaming Holdings, said: "The Isle of Man Government has provided excellent service and assistance throughout the whole process. Its knowledge and experience has proved invaluable to Mandalay in ensuring a smooth and efficient progression in preparing the company to go live.

"We are particularly proud of the development of our new platform as it uses the latest cutting-edge software in order to appeal to a worldwide audience skilled in using social media."

The Mandalay platform has been launched after rigorous testing from users who were recruited via Facebook and has been built specifically to capitalise on the growth in use of social media.

Allan Bell MHK, Minister for Economic Development, said: "I am delighted that Mandalay has chosen the Isle of Man to assist with its future growth. The Isle of Man has built up a world-leading e-Gaming sector and our agile and supportive regulation makes for an attractive proposition."

Alex Downie MLC, the Political Member for e-Gaming, said: "At the heart of the Department of Economic Development is a commitment to championing new ideas and ensuring that the Island's business environment is as hospitable as possible to meet the needs of entrepreneurial companies like Mandalay. We look forward to playing our part in their future success."