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| 21 apr 2017 |
14:54 |
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Commission endorses reform of UK Levy scheme on horserace betting
The European Commission has endorsed a reform of the existing UK Horserace Betting Levy scheme as in line with EU state aid rules. The reform will subject off-shore bookmakers to the levy whereas currently only bookmakers based in the UK contribute to the financing of horse racing. It will establish a 10% levy on the Gross Gambling Yield (GGY) applied to all betting operators for their part of the GGY above a de minimis threshold of £500,000/year.
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The Commission has approved the measure because it recognises that it is essential for the improvement of horse breeding and horseracing without giving rise to undue distortions of competition. The measure also creates a level playing field among betting operators while at the same time supporting entry of new operators and the development of competition between betting operators, thanks to the de minimis threshold. This Commission decision will apply until the UK ceases to be a member of the EU.
More information will be available on the Commission's competition website, in the public case register under the case number SA.46216.
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