£12.5 million: betting shop closures to blow major hole in racing's finances

Betting shops: Paddy Power and Ladbrokes have been forced to close on Tuesday

Betting shops: their closure beyond December could start to cause funding issues for racingCredit: Patrick McCann

The month-long coronavirus lockdown in England will blow a £12.5 million hole in racing's struggling finances in lost levy and media rights payments due to forced betting shop closures.

That was the grim estimate advanced on Sunday by senior industry figures, who continued to digest Saturday's announcement by the government that from Thursday all 5,681 betting shops in England will be closed until at least December 2.

The Levy Board reaffirmed its increased commitment to prize-money levels for the remainder of the year but warned an extension of the proposed restriction could cause issues for the funding of the first four months of 2021.

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Peter ScargillDeputy industry editor

Published on 1 November 2020inNews

Last updated 19:43, 1 November 2020

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