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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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Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
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MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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