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Enterprise Ireland Investments

Dáil Éireann Debate, Thursday - 14 February 2013

Thursday, 14 February 2013

Questions (196)

Eoghan Murphy

Question:

196. Deputy Eoghan Murphy asked the Minister for Jobs, Enterprise and Innovation if he will outline Enterprise Ireland's strategy for supporting Irish initiated or Irish based tech companies that operate in online betting, betting exchange, gambling, competitive social gaming and tipping markets, or that earn revenue from such activities. [7949/13]

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Written answers

Enterprise Ireland does not support companies that operate in the gambling sector – which includes all companies which earn their revenues from online betting, betting exchange, gambling, competitive social gaming and tipping markets.

According to the policies applied by Enterprise Ireland, no financial or soft supports are offered to companies in the gaming/betting sector (unregulated entities or companies operating under the Gaming and Lotteries Act, 1956 or the Betting Act 1931 (as amended)).

Limited grant-only funding can be approved for Financial Spread-Betting Companies (FSB)/ Contracts for Difference (CFD) providers, only if these companies are regulated by a Financial Services Regulatory Authority. Such financial support is restricted to R&D financial assistance and Feasibility supports that relate to the building of the company’s technical capabilities.

Enterprise Ireland does support companies that earn revenue from supplying products or services to companies in the gambling sector (provided the earnings are not directly linked to amounts gambled). There may be rare situations where a company in the gambling sector also operates in another sector, whether through a “ring-fenced” unit or subsidiary, and provided this other activity is one of the eligible activities permitted under the Industrial Development Acts, Enterprise Ireland may provide support for these other activities and the persons employed in that unit or subsidiary.

Given the very narrow scope of intervention which Enterprise Ireland can pursue legally and in line with policy, the strategy in place for supporting companies in these sectors is to work with Irish companies where the primary activity is the development for sale on world markets of new technologies (or the products and services associated with these new technologies), within the confines of legislation and policy.

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