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British Horseracing Remains Confident

Thursday September 1,2016 : BRIT HORSERACING REMAINS CONFIDENT ON NEW LEVY REGIME
 
BHA expects the industry to benefit by GBP 100 million when government introduces compulsory levy in April 2017.
 
The British Horseracing Authority has shrugged off speculation that the Brexit issue will materially effect the implementation of the proposed new government-enforced levy on internet and retail bookmakers who accept bets on British horse races.
 
Commenting that the government’s intention is “clear and unambiguous,” the Authority said that it remains confident that the proposed start date for the new regime of 1 April 2017 will be achieved, and that it hopes to benefit by at least GBP 100 million a year in direct funding from bookmaking companies.
 
The current voluntary levy system is about to be replaced after 50 years, and speculation was triggered by a Racing Post report that quoted figures from an as yet unpublished report commissioned by the government and compiled by Frontier Economics, a consultancy firm.
 
According to the Post’s report, the document examines a number of possible models for the new funding system, including an extreme case in which the bookies’ payments for media rights – such as live broadcasts of racing in betting shops and online – are taken into account, along with their racing sponsorship programme. That would, in the economists’ opinion, leave only GBP 10.4 million to be raised directly from betting.
 
The Guardian newspaper reported that the present levy system raised on average around GBP 100 million a year for British horseracing, but has been diluted as bookmaking companies moved offshore with the advent of online betting.
 
“We are working on the unambiguous and repeated government commitment that it will restore to racing a fair contribution from all operators, which has been lost to racing simply because of the shift towards offshore remote betting,” a BHA spokesman said Wednesday.
 
“The replacement of the current Levy is on track to take effect from April 2017. Work within racing is at an advanced stage on various fronts, including the formation of the Racing Authority to distribute the enhanced funding.
 
“Our own direct discussions with the European Commission have been very encouraging, including since the referendum, and we have had confirmation that this case has clear precedents, most recently in France, and will be dealt with as promptly as possible.”

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Gambling News :

GVC In Content Deal With Microgaming’s Quickfire - Microgaming-powered Prima Networks Limited will supply over 50 new titles to GVC’s recently acquired bwin Casino, PartyCasino and Party Poker gaming sites within the coming weeks.

Opap in memorandum of understanding With Inspired - Virtual sports provider Inspired has entered into a memorandum of understanding (MOU) with Greek betting and lottery operator OPAP for the supply of its full suite of virtual sports, for integration online and across OPAP's retail network.

DeltaCorp To Acquire ace2three - Our readers will recall Delta Corp. acquired a 26 percent stake in Gaussian Networks, parent company of India’s largest online poker operator Adda52 earlier this month

More Australian POC Taxes - In an interview with The Australian, Tabcorp chief executive offer David Attenborough warned “global rivals” of his belief that other Australian states are moving fast to follow South Australia’s lead in implementing a point of consumption tax.

William Hill Exits Russia - "Starting from September 23 William Hill Casino Club will terminate its activities in the Russian territory for legislatory reasons. All active customer accounts will be suspended," the advisory reportedly detailed.

Pennsylvania Online Gambling Hearing Postponed till October - HR 2150, which includes DFS and e-gaming elements, was passed as part of the critical state budget bill by the House in June this year, with lawmakers expecting the bill to contribute $100 million annually in licensing and fees to help balance the state budget.

Two Mega Fortune Dreams Jackpots Hit - Both Swedish players, the first lucky punter hit a GBP 100,000 jackpot playing on his mobile phone, while the second, identified as Martin, staked just 18p before netting a GBP 60,000 jackpot on the popular series thinking he was playing in demo-mode.

ASA Looking at Ladbrokes and Netbet ads - A TV ad for Cosmo Gaming’s NetBet online casino was determined by the UK Advertising Standards Authority (ASA) as glamorising online gambling following a single complaint.

Betconstruct In Deal With Realistic Games - BetConstruct has agreed a deal in which it will integrate a range of Realistic Games online table and slot content including blackjack, roulette and slot titles Super Graphics Upside Down, The Fruit Factory and Fireworks.

XLMedia Half 1 2016 Earnings Report - Online gambling marketing company XLMedia, which operates websites driving players to online casino operators, delivered robust interim results for the first half of 2016, attributing its success to investment in technology.

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