There's a very strong letter in the Irish Field today from John Oxx in which he denounces the "appalling" attitude of Paddy Power CEO Patrick Kennedy, and of the betting industry in general, at a meeting during the week of the parliamentary committee with responsibility for horse racing. Here are some extracts:
"What (Kennedy) had to say, and his arrogant demeanour throughout, was of great concern to me and should be to everybody involved in the racing and breeding industries...
Mr Kennedy stated that Irish racing was not world class, he advocated a significant (further) reduction in prize money and he described racing's relationship with the betting industry as parasitical... Mr Kennedy said that Paddy Power did not need Irish racing, a position which I find remarkable. Indeed, he gave the impression that he would not care if Irish racing ceased or closed down...
Mr Kennedy presented a range of figures and reasons to counter the suggestion that bookmakers should pay more tax, but the one figure which I cannot understand is how in 2001, when betting in Ireland was 1.3bn euro, the tax paid was 68m, but now that betting has increased to approximately 4.5bn, the tax has fallen to 31m."