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 [...]
