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U.K. HORSERACING LEVY NEAR AGREEMENT?
Tuesday, November 1, 2011 : Negotiating parties want to avoid government intervention
The always controversial annual level of contribution to the British horseracing industry by UK bookies was again in the spotlight Monday as negotiators tried to avoid government involvement by reaching an agreement on this year's subsidy.
Just ahead of the Monday midnight deadline, Jockey Club CEO Simon Bazalgette told delegates at a sport business conference that a deal could be close, spurred by both the racing and bookmaking industries wanting to avoid a repeat of the UK government having to step in as was the case last year when the two sides hit a deadlock.
Major bookmaker Ladbrokes also said it was hopeful a deal could be struck.
"We are hopeful that an agreement will be reached without recourse to the minister. The gap between the two sides is not as sizeable as in previous years," a Ladbrokes spokesman told the Reuters news agency.
The overall amount paid to racing has fallen significantly in recent years because of bookmakers moving their online operations offshore and, therefore, avoiding having to pay the levy on bets placed on British races.
Gambling companies, on the other hand, have argued they now fund racing through additional channels, including paying for television pictures and sponsorship deals.
Last year, the government instructed bookmakers to pay 10.75 percent of their gross profits to racing, up from the usual 10 percent.
The government is consulting with both sides over establishing a viable alternative to the levy for future years, Reuters reports.
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Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
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Sensational Sixes Slot Goes Live -
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3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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