Sportingbet will move to the Bailiwick and use its Alderney licence. Two staff will be kept on there, while new jobs will be created in Guernsey.

One of the reasons for the move is the island's regulatory controls.

The chief executive of Alderney's Gambling Control Commission, Andre Wilsenach, welcomed the news.

"It's a fast moving industry and we have got to keep up," he said.

"We are quite pleased there is quite a bit of interest in Alderney and that companies of that size and nature find our regulatory framework quite attractive."

Sportingbet, which is the subject of a takeover approach from Austrian-based Bwin, is moving its European management, trading and marketing operations to the Bailiwick in phases.