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Isle Of Man £50 Million Enterprise Development Fund announced

Thursday July 30,2015 :  ISLE OF MAN TO ASSIST NEW CORPORATE ARRIVALS
 
£50 Million Enterprise Development Fund announced.
 
The Isle of Man, already home to a flourishing online gambling industry, could well see more companies relocating or starting up on the island following news of a new government initiative to attract corporates.
 
Chief Minister Allan Bell this week announced the creation of a new Enterprise Development Fund to support local businesses and encourage new companies to relocate to the Isle of Man.
 
The £50 million fund, which will eventually be self-sustaining, will provide grant, loan and equity investment to new Isle of Man start-ups, existing expanding Isle of Man businesses and businesses wishing to relocate to the Island.
 
There are three core support types proposed in the new scheme:
 
• Fledgling: For start-ups on-Island (typically with 1-10 employees)
 
• Accelerator: For Small to Medium Enterprises (typically with 5-20+ employees) entering the next growth phase.
 
• Relocator: For relocating medium to large firms to the Island.
 
John Garland, Head of Corporate Financial Services, said Thursday:
 
"This new fund is just one of a range of measures under the Enterprise Isle project (a key initiative under Vision 2020) which will empower us to find those new start-ups and on-Island businesses ready to accelerate to the next level and give us more 'tools for our tool box' to attract new job-creating businesses to establish on our shores."
 
An Expression of Interest has also been published by Treasury seeking the appointment by competitive tender of private investment managers for the management and investment of the fund, in particular the 'Accelerator' and 'Relocators.'
 
More detail here: http://www.whereyoucan.com/News-Article/Consultation-launched-for-proposed-Enterprise-Development-Fund.aspx?utm_source=NewZapp&utm_medium=email&utm_campaign=eNews_WYCJune2015

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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