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Horserace betting and Olympic Lottery bill published
The government has published its Horserace Betting and Olympic Lottery Bill.
Part one of the bill enables the government to sell the Horserace Totalisator Board – the Tote – to a Racing Trust and authorises the abolition of the Horserace Betting Levy Board – the Levy Board.
The bill's second section allows dedicated Olympic Lottery games to be set up – as part of the National Lottery – to help fund the staging of the 2012 Olympics, should London’s bid be successful.
Of the new Olympic Lottery games, culture secretary, Tessa Jowell, said: “We hope that a dedicated lottery could raise up to £750m to help fund the games, which would bring benefits across the UK including regeneration and increased investment.” Details: www.publications.parliament.uk/pa/pabills.htm
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