UK gambling shops are eligible for direct cash grants of up to £ 6,000
The British government has put in place a £ 5 billion plan to revive shopping streets across the country. While nonessential shops can fetch up to £ 6,000, hotel, leisure and accommodation businesses are eligible for grants worth £ 16,000 as they face a longer closing period. Finance Minister Rishi Sunak announced that gambling shops, as well as all non-essential services, are eligible for direct cash payments of up to £ 6,000 per site.
Racetracks and sportsbooks in England received a clear set of dates to work towards the reopening last week when Prime Minister Boris Johnson gave the first details of a timetable for leaving the closure.
April 12 will be the start of the reopening of non-essential places as part of the second phase of the strategy of the British authorities, provided that the vaccination rate against Covid-19 continues to increase. Gambling shops in England join nearly 700,000 non-essential retail businesses, including shops, hotels and restaurants. The funds, intended to support companies when they resume operations, will replace the monthly grant system currently in force.
The gambling and betting industry contributes greatly to the UK economy
BGC CEO Michael Dugher has called for a one-year extension of business aid rates to ease pressure on gambling companies. In his letter to the Chancellor he said that the gaming and betting industry contributes greatly to the country's economy and that BGC hopes the national budget will drive the UK recovery forward to return to growth and creation of job.
Dugher said in his letter to Chancellor Sunak that with the facilities closed for much of the past year, the grants are needed to protect jobs and take great financial pressure off businesses. Another important point raised by Daugher was the assurance that the government will make funds available to the Scottish and Welsh delegate administrations. He pointed out how the Scottish and Welsh governments refused to offer commercial fee relief to gambling entities, which sadly has had a disproportionate impact on small independent businesses, many of them run by families.
The horse racing industry faces a serious financial challenge
2020 was a difficult year for the industry as the coronavirus pandemic caused a 1.6 billion pound drop in gross gaming revenue and the government continued to review the 2005 Gaming Act. The industry currently employs some 100,000 workers and is looking forward to recovery.The BGC also stated that it is essential to ensure that regulation of the betting and gaming sector does not undermine the essential support that racing receives from betting.
The leaders of the British Horseracing Authority (BHA), Racecourse Association (RCA) and The Horsemen’s Group (HG) have welcomed the government's decision to provide up to £ 40 million in horse racing loans.The money is intended to help sports facilities that suffer financially from the absence of spectators, who have not been able to attend the races since March of this year. This has led to a significant number of layoffs at racetracks and reduced the flow of funds to race participants, which in turn affects the rural economies where so many are located.
Give your opinion