A cross-party group of 19 MPs representing British racecourses has called on Culture Secretary Lisa Nandy to intervene and suspend the Gambling Commission’s plans to implement financial risk assessments (FRAs).
The MPs warn that the policy’s rollout, scheduled for later this month, could inflict lasting harm on horseracing and the broader licensed betting market.
In an open letter obtained by the Racing Post and published on Sunday, the MPs, representing 59 racecourses that attract over five million visitors annually, highlighted the economic significance of the horseracing industry.
They said it contributes more than £4 billion [$5.4 billion] to the UK economy, generates £300 million [$400 million] in tax revenues and supports approximately 85,000 jobs nationwide.
