Legal & Regulatory News

The European Commission has approved an amended proposal for a levy on online horserace betting which would raise funds to service the horse racing industry in France.

The approval follows changes made by French authorities following the opening of a Commission investigation to ensure fair competition between horserace betting operators.

As part of the opening up of its online horse racing industry in June 2010, French authorities notified the Commission of a proposal for a parafiscal levy of 8 per cent of stakes in order to finance a service to improve the bloodline and promote horse breeding, which would be entrusted to horse racing companies.

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