Lottery hits Levy revenue

Thursday 02 May 1996 23:02 BST

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Tristram Ricketts, chief executive of the BHB, yesterday described the Levy Board's provisional 4.7% cut in its prize- money contribution for 1997 as "a matter of grave concern".

The Leny Board's chairman, Sir John Sparrow, said that the decline in off-course betting turnover - attributable largely to competition from the Lottery - had produced a deficit of revenue of pounds 5.1m. That necessitates a provisional allocation of prize-money for next year of pounds 28.5m, pounds 1.4m down on 1996. "Hopefully the effect of the Lottery will work itself out after it has been in existence for one and a half to two years," Sparrow said.

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Lottery hits Levy revenue

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