Racing UK rejects levy offer from four major operators?
News on 7 Jun 2016
News on 7 Jun 2016
According to the Racing Post, Racing UK has rejected a fresh levy offer from Betfred, Coral, Ladbrokes and William Hill.
Our readers will recall these four major operators declined to sign up for UK Racing’s recently implemented Authorised Betting Partner (ABP) programme.
According to the Racing Post, the latest offer of 5 percent on remote gross profits on UK horse racing over a three-year-period, together with 10.75 per cent from retail in 2016-17, followed by a 7.5 per cent contribution from both remote and from betting shops for the following two years was rejected by Racing UK who allegedly said the offer was less than that offered by the bookmakers last autumn.
In the meantime, Frontier Economics is expected to deliver a report in the coming weeks which will contribute towards the Government’s decision on a set rate to replace the levy.
