Barry Faulkner the Chief Executive of the Greyhound Board of Great Britain (GBGB) has praised Ladbrokes Coral’s governance for committing to pay a voluntary levy on greyhound turnover taken from remote wagers.
Yesterday, FTSE-listed Ladbrokes Coral issued a corporate statement detailing that it would pay a ‘voluntary levy to greyhound racing based on off shore greyhound turnover from the start of 2018.’
Ladbrokes Coral CEO Jim Mullen detailed to stakeholders, that the bookmaker wanted to ‘rebuild the sport’ of greyhound racing and that a voluntary levy would contribute much-needed investment towards infrastructure and animal welfare.
Mullen further stated that Ladbrokes Coral’s support would be ‘unconditionally’, making its payments through the British Greyhound Racing Fund or the body advised by Lord Lipsey’s review of the sport, which is currently ongoing.
Updating the market, Barry Faulkner backed Mullen and Ladbrokes Coral’s commitment to greyhound racing commenting;
“Following our protracted talks with bookmaker representatives over the last two years and the appointment of Lord Lipsey by DCMS to assist with those talks earlier this year, the announcement is welcome news. The BGRF voluntary levy income has halved over the last few years with the major bookmakers, other than Bet365, making no contribution from their offshore operations. We hope that other operators will follow suit and agree to extend the voluntary levy to their remote operations. Hopefully, this will begin a process whereby the chronic underfunding of greyhound racing comes to an end. The additional revenue will help to ensure that sport can maintain the highest standards of welfare and integrity.”