Mar 3, 2018
Ladbrokes threatens cut to sponsorship
The UK's biggest bookmaker, Ladbrokes Coral, says it will have to cut the £8m it spends each year on sponsoring sports events if new rules reduce the maximum stake on gaming machines. "Ladbrokes said:"A severe stake cut has many implications not least on jobs, the Treasury and the sports we support. "Sports sponsorship is a two-way street, yes we get exposure but it also helps sports finance their entire structures right down to grass-roots funding." The company suggested that horse racing was less vulnerable to potential sponsorship cuts than other sports. The possibility of losing sponsorship is yet another headache for horse racing, which fears that anything that hurts high street bookmakers could reduce its funding.
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