CHIN
Sales on overseas racing which were halted briefly by the bookmakers have resumed following the intervention of State Minister for Finance, Fitz Jackson.
Members of the United Bookmakers Association (UBA) ceased selling English racing as of Thursday, December 22 owing to the imposition of a 1.5 per cent tax by government on gross sales for overseas racing which accompanies the recent amendment to the tax regime. Speaking to The Gleaner yesterday, Xavier Chin, CEO of Track Price Plus and president of the UBA, said Minister Jackson contacted him last Friday, and the problem was discussed at length.
"He promised to meet with us in early January and asked us to resume overseas racing and not to lay off the affected staff.
CONTINUOUS PRESSURE
"We are grateful for this prompt action, but we hope the responsible authority, namely the Betting, Gaming & Lotteries Commission will give us a break from the continuous pressure so that we can iron out all the problems associated with this fragile industry.
"There is a lot at stake and the general public is not fully aware of the problems besetting us.
"We sincerely hope that a suitable alternative can be negotiated at an early date. Hopefully, good sense will prevail, especially in the matter of the other (delayed) amendments, which when enacted should see a tremendous take-off for the betting industry and more opportunities for punters", he explained.
The five members of the UBA are Track Price Plus, Markham. Ideal, Summit and Champion Betting.
Sales on English racing resumed on Boxing Day.
