WALTHAMSTOW DOGS TO CLOSE
PRESS STATEMENT
Agreed Sale of Company’s Land 16 May 2008
The directors of Walthamstow Stadium Limited have agreed to the sale of the Company’s freehold property at Walthamstow Stadium to a development consortium led by Yoo Capital, London, and Quadrant Housing Association and K W Linfoot plc. Formal contracts have been exchanged and completion is expected on or before 1st September 2008. Racing will continue until the middle of August 2008.
Since the abolition of General Betting Duty in 2001, with the consequent loss of the unique advantage of tax-free betting only on-course, greyhound punters have been able to bet tax-free off-course, and with betting offices and exchanges open throughout the evening to accommodate them, attendances and betting turnover on-course have declined dramatically. Walthamstow’s totalisator turnover alone has fallen by some 35% during the period.
With all of the principle income streams in sharp decline, and general running costs rising relentlessly, the company’s operations have become unsustainable.
Staff and trainers have been notified and now enter a consultation period. It is hoped that all will find alternative positions after operations cease. From an animal welfare point of view, it is anticipated that most of the greyhounds currently racing at the Stadium will be accommodated at other racecourses. If, however, certain owners choose to retire their greyhounds, every effort will be made to support them in finding suitable homes.
For further information, please call:
Charles Chandler 01707 644288
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