Board Meeting Summary
Meeting Date: Tuesday 3rd March 2026
RACEHORSE OWNERS ASSOCIATION APPLICATION
The Board approved a grant application from the ROA.
DRAFT BUDGET 2026/27
The Board approved the draft budget 2026/27 subject to confirmation of 2025/26 Levy yield which would be clearer after the April Board meeting.
HBLB LOANS
The Board agreed that an upper limit should be set on the amount that it would lend in respect of any one specific loan application and agreed to consider this further in April.
RATECARD ABANDONMENTS
The Board agreed to introduce an allowance into the ratecard modelling from 2027 onwards that more accurately made provision for racecard abandonments.
HBLB POLICIES
The Board approved HBLB policies on Sexual Harassment, Domestic Abuse, and EDI.
TECHNOLOGY INVESTMENT OVERVIEW
The Board approved an increase in funding to support the delivery of essential cybersecurity and an improved digital infrastructure for HBLB over the next three years up to 2029.
HBLB LEVY COLLECTION: PROPOSED CHANGE OF BANDS
The Board approved, in principle, for the purposes of further engagement with relevant stakeholders before any final decision, a change in the declaration requirements for betting operators with relatively low assessable profits.
VETERINARY ADVISORY COMMITTEE RECOMMENDATIONS
The Board considered VAC recommendations for funding applications and agreed to defer a final decision until its April Board meeting.
BOARD COMMITTEE APPOINTMENTS
The Board approved appointments as follows:
- Madeleine Campbell as a member of the Audit and Risk Assurance Committee.
- Roger Devlin as Chair of the Investment Committee.
- Wilf Walsh as a non-voting attendee of the Investment Committee.
- Madeleine Campbell as Chair of the Remuneration Committee.
GOVERNANCE AND LEGAL UPDATE
The Board received a presentation on general legal matters.
MEMBERS’ REGISTER OF INTEREST
The Board noted the Members’ Register of Interests.
NON-FIXTURE GRANTS DASHBOARD
The Board noted the Non-Fixture Grants Dashboard, including the Q3 results and the year-end performance of Non-Fixture Grants for 2025.
CAPITAL CREDITS APPLICATION
The Board approved a Capital Credits Grant to York racecourse of £380,000 towards the funding of parade ring improvements.
MANAGEMENT ACCOUNTS TO 31 OCTOBER 2025
The Board approved the Management Accounts to 31 December 2025.