Following yesterda?_x0019_s meeting of the BHB Board, its Chairman Peter Savill said today:
“The Board discussed its commercial policy in the light of the Levy determination by DCMS and unanimously reaffirmed its support for the policy it has been pursuing for the past six months. The Board remains fully committed to introducing that commercial policy on 1st May and continues to be willing to talk to bookmakers on an individual basis. It is not willing to enter into discussions with the Confederation of Bookmaker Associations or any other trade association, since they do not have the authority to bind their members to an agreement.”
Commenting on the Levy determination, Savill added: “Personally, I am absolutely delighted with the Levy settlement. The Bookmakers’ Committee offered a one-month settlement; DCMS firmly rejected it. The bookmakers offered less than 8% of gross profit; DCMS have awarded us 9%.
“To have been awarded a 50%-70% increase in the levy shows clearly that Government has accepted not only that Racing requires additional funding but that the betting industry can afford to pay considerably more than it has in the past.
“I am also delighted that the Bookmakers’ Committee’s threat to refer the settlement by DCMS to Europe on the grounds of illegal State Aid appears to have been a hollow threat aimed solely at trying to bring the racing industry to its knees. In that, it has failed miserably.
“Quite how some observers have concluded that the Levy determination was anything other than a tremendous victory for British Racing is completely beyond comprehension.”
For further information, please contact Alan Delmonte, BHB Communications Manager, on 020 7343 3318