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Ladbrokes threatens to withdraw UK betting
Ladbrokes, one of the leading UK bookmakers, has announced that it will abandon coverage of UK horse racing if the British Horseracing Board does not retract plans to substantially increase the levy collected from bookmakers.
The Ladbrokes chain said that it would prefer to leave the UK racing market altogether rather than pay increased charges which could be as much as £37m.
The company's confidence in abandoning UK racing comes parent company Hilton recorded a strong performance in half-year figures.
Despite the cancellation of 169 race meetings in the UK, Ladbrokes' alternative coverage of international meetings and greyhound racing resulted in a profit increase of 24 per cent showing less of a dependency upon the UK market than expected.
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