Post-to-Post seeks BGLC intervention after ban on on local racing
Betting company Post-to-Post has asked for the intervention of the chairman of the Betting Gaming and Lotteries Commission (BGLC) after it was prohibited from selling bets on local horse racing by the BGLC following a 66 per cent increase in rights fee, by the new promoting company of local racing Supreme Ventures Racing and Entertainment Limited (SVREL).
The ban came into effect on Saturday.
In a press release on Friday, Post-to-Post said that to ensure compliance with and respect for this order from the duly constituted regulator as long as it remains in force, Post-to-Post betting outlets, including those located within the ambits of Caymanas Park, St Catherine, ceased selling bets on local racing on that day.
The decision was taken following a meeting on Thursday with SVREL, which holds the licence to operate Caymanas Park as of March 7 following divestment by Government.
The betting company, which has been in operation for over 50 years, has indicated that it anticipates continued operations, at least while its current agreement with Caymanas Track Ltd remains in place, and requested the BGLC's approval to continue offering bets on local racing until the dispute between both parties is resolved.
The Post-to-Post management was informed that its rights fees would be increased with effect from March 11, and an ultimatum issued that failure to pay this immediate increase would result in the company being prohibited from selling local racing on the next race day.
Post-to-Post said that the timing of the notice was unfortunate.