Lottery hits at turf's coffers
Wednesday 17 July 1996
The report, which reviews the 1995-96 financial year, calculates the levy yield from betting turnover at pounds 48m - pounds 7m less than had been forecast in October 1994 before the introduction of the Lottery.
Sir John Sparrow, board chairman, said: "The 1995-96 levy out-turn and the scale of profit reductions announced in recent months by the large, publicly quoted bookmaking companies, have made it clear that the industry is experiencing, in the effects of the National Lottery, the worst setback in its fortunes since betting shops were legalised in 1960."
The state of the betting industry was illustrated by the number of shops which had closed during the period under review, the board's chief executive, Rodney Brack said. "By the end of the financial year, the total number of operating shops had fallen below 9,000, compared with around 9,500 at the outset, a decline of 5.2 per cent, well above the long-term trend,'' Brack pointed out.
"Although many of the closures were made by small bookmakers, similar actions were taken by several of the large companies, and those shops that could not be sold were locked and left."
Latest in Sport
Arsenal have 'too many strikers' claims Arsene Wenger, despite admitting Lukas Podolski is 'not a real centre-forward'
Arsenal transfer news: Arsene Wenger says he will be 'actively involved' on deadline day... but may not buy a striker despite Giroud injury
Fernando Torres to AC Milan: Jose Mourinho talks up Mattia Destro with Torres on verge of Chelsea exit
Mario Balotelli has been 'spoken to at length' and Liverpool have ensured he lives on Merseyside rather than Manchester
Tottenham vs Liverpool: Hugo Lloris expects Spurs to wipe away shame of 4-0 and 5-0 defeats last season
- 1 Strictly Come Dancing 2014: Gregg Wallace joins line-up as final celebrities revealed
- 2 Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
- 3 Oil tanker with $100 million cargo goes missing off Texas coast
- 4 Saudi Arabia executes 19 in one half of August in 'disturbing surge of beheadings'
- 5 Brother and sister, Christopher Buckner and Timothy Savoy, arrested for 'committing incest after watching 'The Notebook''
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Do you realise just how foolish the UK looks?
With Douglas Carswell joining Ukip, my party has taken another giant step forward
£40000 - £50000 per annum + Benefits + Bonus: Harrington Starr: C# .NET Web De...
Highly Competitive Salary: Austen Lloyd: HAMPSHIRE MARKET TOWN - A highly attr...
£35000 per annum: Harrington Starr: Network Engineer (CCNP, CCNA, Linux, OSPF,...
Highly Attractive Package: Austen Lloyd: A VERY HIGH QUALITY FIRM A high qual...