Friday 1st May 2020
Levy income for the year ended 31st March 2020 will be in the region of £97m, on the basis of provisional submissions to date from the majority of Levy-paying bookmakers.
In recent months, the Horserace Betting Levy Board had adopted a forecast range of £90m to £95m.
Levy Board Chairman Paul Darling commented: “It is very welcome that Levy yield for the past year looks like being in line with if not just ahead of expectations. This removes one of the current uncertainties for us in our financial planning.
“I would like to thank all those bookmakers who have made timely returns to us in the current difficult circumstances and also those whose voluntary monthly reporting of betting performance during the past year has enabled us to make forecasts with increased confidence and precision.
“This additional revenue will be built in to our modelling as we now focus on the contribution that the Levy Board can make at the point that racing fixtures resume in line with Government requirements and guidance. These discussions are ongoing with the key parties involved.
“We understand the particular importance of Levy Board funding at this time. We expect to be making a greater than usual contribution to prize money as and when racing resumes, albeit that we must do so on a financially responsible basis in recognition of the wider uncertainty around our own ongoing future income.”
For further information, please contact Levy Board Chief Executive Alan Delmonte on 07931 701536