Commenting on the outcome of today’s Levy Board meeting, BHB Chairman, Peter Savill, said:
“”We welcome the Levy Board’s decision to reject the derisory offer submitted by the Bookmakers’ Committee.
“”Far from representing a real increase, the offer amounts to less than the Levy Board received in 1997/98 indexed for inflation since that date.
“”The offer is nowhere near enough to address the needs of racing identified in the Financial Plan and, with betting industry profits up by £250m since 1995, it fails to reflect the betting industry’s capacity to pay.
“”We urge the betting industry to come back with a substantial offer next week.””