Board Meeting Summary

Meeting Date: Wednesday 14th February 2007

Grants to Breed Societies 2007/08

Press Release - 15/02/2007 - Levy Board Rare Breed Grants

Donations to Charities

The HBLB decided on its charitable donations for 2007/08.

In line with the policy of supporting five charities with human and equine interests in the racing and gambling fields, donations of £5,000 each will be made to Racing Welfare, the Mark Davies Injured Riders' Fund, the Spinal Injuries Association, the International League for the Protection of Horses and the Responsibility in Gambling Trust.

The HBLB also supports the BHB charity, Retraining of Racehorses (RoR). Donations to RoR are decided each Summer.

Horserace Totalisator Board – Levy Contribution 2007/08

The HBLB considered the basis of the Tote's contribution for the 45th Levy period (year commencing on 1st April 2007).

It was agreed that the Tote will contribute at the same rate as other bookmakers in respect of off-course SP and Tote odds, cash, internet, interactive and telephone British horserace betting business and on-course SP, cash and credit British horserace betting business. The Tote will contribute 10% of British horserace betting gross profits in respect of Tote Direct.

45th Levy Scheme – Default Percentage

The HBLB noted that, for the purposes of calculating a Bookmaker's final levy liability in respect of the 45th Levy scheme (year ended 31st March 2007), a default percentage of 45% (2005/06: 49%) may be used by those bookmakers who are unable to calculate their gross profits on British horseracing betting business, and/or who do not operate EPOS systems. The default percentage represents the Bookmakers' Committee's assessment of British horseracing's share of total gross profits, excluding Fixed Odds Betting Terminals (FOBTs).

Capital Fund Allocations to Racecourses

Each year the HBLB reviews its provisional allocation of interest-free loans to racecourses from the Capital Fund for the forthcoming three years. The review is based on the racecourses' future plans for improvement of their facilities, and takes account of the HBLB's priorities for expenditure from the Capital Fund, as set out in its annual Policy Statement.

As a result of this year's review, provisional allocations to racecourses were made for planning purposes for the three years 2007 to 2010. Final approval will be subject to submission of detailed applications. The total allocation for the period averages £13.2 million a year.