In response to today’s news that the Government will deliver a new funding model for British Racing Arena Racing Company’s (“ARC”) Chief Executive, Martin Cruddace, said:
“Today’s announcement is great news for British Racing. ARC is delighted that the Government has committed to act with a clear timeline for implementation of a new levy system from April 2017.
“ARC has, and will continue to be, at the forefront of industry issues. We will work with the government, everyone in British Racing and the betting industry to ensure a smooth transition to the new system. It should be said that the Levy Board has achieved a considerable amount to date against the backdrop of continued uncertainty and it has our thanks for acting with such consummate professionalism.
“I believe this vindicates ARC’s clear support of British Racing’s ABP policy. However, it is of vital importance that we continue to work with all betting operators to ensure we provide value to them in all our commercial relationships and properly take account of betting industry needs in fixture and prize money policy.”
