Board Meeting Summary
Meeting Date: Wednesday 19th March 2008
Horserace Totalisator Board – Levy Contribution 2008/09
The HBLB Board approved the contribution by the HTB in respect of the Forty-Seventh Levy period should be determined on the basis that the HTB will contribute, in respect of off-course SP and Tote odds, cash, internet, interactive, and telephone horseracing betting business and on-course SP cash and credit horseracing business as if it were a bookmaker for the purposes of the Forty Seventh Levy Scheme, and in respect of Tote Direct, at the rate of 10% of horserace betting gross profits.
Fixture Criteria 2009
The HBLB Board approved its 2009 Fixture Criteria and a revised allocation of £6.026m to the 2009 Fixtures Incentive Scheme.
Allocations to Capital Credits
The HBLB Board approved the following:
(1) Fixture Fee transfers to Capital Credits of £1,449,132 for the period 1 April to 30 June 2008.
(2) Maximum allocations to racecourses of Capital Credits under the Prize Money/Capital Credit Scheme of £7,492,440 for the period 1 April to 30 June 2008.
(3) Integrity Fee Grant transfers to Capital Credits of £673,702 for the period 1 April to 30 June 2008.
(4) Regulatory Head Office Fee Grant transfers to Capital Credits of £504,540 for the period 1 April to 30 June 2008.
(5) HFL Laboratory Fee Grant transfers to Capital Credits of £507,056 for the period 1 April to 30 June 2008.
(6) Capital Credit Grants requested by racecourses to be applied during the April to June 2008 quarter as repayments of loans in respect of approved development projects, and totaling £2,346,000.
The HBLB Board also took note of the fourteen racecourses transferring Appearance Money to Capital Credits in the period 1 April to 30 June 2008.
Racecourse Improvements
(a) Capital Credit Grants : Leicester
At its March 2008 meeting, HBLB Board approved a Capital Credit Grant of up to £9,500 to meet the cost of installing lateral drains across the course between the 5 furlong and 6 furlong starts irrigation works.
The HBLB Board approved the contribution by the HTB in respect of the Forty-Seventh Levy period should be determined on the basis that the HTB will contribute, in respect of off-course SP and Tote odds, cash, internet, interactive, and telephone horseracing betting business and on-course SP cash and credit horseracing business as if it were a bookmaker for the purposes of the Forty Seventh Levy Scheme, and in respect of Tote Direct, at the rate of 10% of horserace betting gross profits.
Fixture Criteria 2009
The HBLB Board approved its 2009 Fixture Criteria and a revised allocation of £6.026m to the 2009 Fixtures Incentive Scheme.
Allocations to Capital Credits
The HBLB Board approved the following:
(1) Fixture Fee transfers to Capital Credits of £1,449,132 for the period 1 April to 30 June 2008.
(2) Maximum allocations to racecourses of Capital Credits under the Prize Money/Capital Credit Scheme of £7,492,440 for the period 1 April to 30 June 2008.
(3) Integrity Fee Grant transfers to Capital Credits of £673,702 for the period 1 April to 30 June 2008.
(4) Regulatory Head Office Fee Grant transfers to Capital Credits of £504,540 for the period 1 April to 30 June 2008.
(5) HFL Laboratory Fee Grant transfers to Capital Credits of £507,056 for the period 1 April to 30 June 2008.
(6) Capital Credit Grants requested by racecourses to be applied during the April to June 2008 quarter as repayments of loans in respect of approved development projects, and totaling £2,346,000.
The HBLB Board also took note of the fourteen racecourses transferring Appearance Money to Capital Credits in the period 1 April to 30 June 2008.
Racecourse Improvements
(a) Capital Credit Grants : Leicester
At its March 2008 meeting, HBLB Board approved a Capital Credit Grant of up to £9,500 to meet the cost of installing lateral drains across the course between the 5 furlong and 6 furlong starts irrigation works.