BHB Chief Executive, Tristram Ricketts, said:
“”The BHB has no comment to make on the commercial reasons why Victor Chandler has decided on this move. It is a business decision which doubtless he expects will have a beneficial effect on profitability.
“”We are told that the so-called ‘voluntary levy’ could increase Chandler’s overall contribution to racing, but beyond that the proposal is somewhat vague. In our view, it would be in the best interests of racing for any ‘voluntary levy’ to be paid direct to the Levy Board and for the Levy Board to be responsible for its distribution. If the amount contributed by Victor Chandler in future is greater than it is now, so much the better.
“”As far as General Betting Duty is concerned, that is a matter for the betting industry and for Government. If the betting industry is convinced it has a strong case for a reduction in GBD, it will no doubt continue to press for a reduction. It is a matter for the Treasury to assess how the tax cut in Ireland and the Victor Chandler move will affect tax revenue and to take that into account in determining Government policy.
“”The BHB will continue to focus on what matters most to Racing, and that is to secure an increased percentage of betting turnover returned to the sport on which the bookmakers’ core business is based.””