Issuing a corporate update, Ladbrokes Coral Plc has today informed that it will be paying a ‘voluntary levy to greyhound racing based on off shore greyhound turnover from the start of 2018.’
The FTSE firm states that its commitment to the greyhound levy will 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.
At present, Ladbrokes Coral operates four greyhound tracks at Crayford, Hove, Monmore and Romford, the levy funding is in addition to retail levy and will contribute a significant investment in welfare and infrastructure at these tracks.
Updating investors Jim Mullen, Ladbrokes Coral Chief Executive commented on greyhound levy contributions: “We are passionate supporters 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.”
“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 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. 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.”