Ladbrokes Coral to pay voluntary greyhound levy
Firm to pay levy in line with regulatory review proposals to ease decline of UK racing
Ladbrokes Coral will pay a voluntary greyhound levy in a bid to ease the decline of greyhound racing in the UK, the firm announced today.
The operator has made a commitment to pay the levy to the sport from the start of 2018, in line with proposals suggested by Lord Lipsey’s ongoing review into greyhound racing regulation.
The review aims to address regulation with a view to securing the future of racing in the UK, which has been in steady decline since betting firms moved operations away from retail to online.
UK betting shops pay around 0.6% of retail turnover to the British Greyhound Racing Fund (BGRF) but that amount has halved in the last 10 years, dropping to £7.2m last year from £14m.
Jim Mullen, Ladbrokes Coral chief executive, said his firm was making the commitment because it was a “passionate supporter of greyhound racing”.
“While it may be declining in popularity it is still a much loved and staple part of our offer both in shops and through our digital channels,” Mullen said.
“The debate on its funding has been going on for some time and while we have not always agreed that the sport is under-funded, we do recognise that it is time for the industry to move on and start to rebuild the sport.
“We hope this gesture will help Lord Lipsey bring a period of stability to the sport when he produces his findings and that others will follow.”
Ladbrokes Coral owns four greyhound tracks at Crayford, Hove, Monmore and Romford.
The firm said the voluntary funding is in addition to a retail levy and significant investment in the welfare and infrastructure of its tracks.
“We run our tracks to the highest standards of integrity and welfare and hope that this additional funding can help the wider industry join us in the aim of building a better sport and spectacle for the modern day customer,” concluded Mullen.