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SBD Global/July 25, 2014/Leagues and Governing Bodies
Labour Party To Propose Taxes On English Premier League, Betting Firms To Boost Sport
Published July 25, 2014
THREAT CAUSES SLUMP: In London, Bryce Elder wrote "the threat of a new gambling tax sent William Hill and Ladbrokes slumping on Thursday." The bookmakers "dropped after the Labour party proposed extending a racing industry levy to all sports." Labour’s proposals also "rekindled worries that gambling restrictions will be a key platform in next year’s general election, particularly as The Responsible Gambling Trust’s industry study is due for publication around party conference season in September." William Hill, "which has interim results due next week," fell 4.3% to 339p. Ladbrokes was 4.9% lower at 132.3p (FINANCIAL TIMES, 7/24).