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Levy Board makes cuts with 2010 deficit to reach £21.9m

30th June 2010 9:12 am GMT

The UK's Horserace Betting Levy Board (HBLB) said this week that it will have to make savings of £3.75m during the remainder of 2010, after budgeting to spend more than it would receive this year from UK bookmakers, with an anticipated annual deficit of some £21.9m to be met by the Board's reserves.

With effect from August 1st, the HBLB said that it has approved specific expenditure reductions of £3.125m so far, including reducing prize money [...]

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