Goodwood betting shop closes

A TOTAL of 67 persons will be thrown on the breadline from today when Goodwood Racing Service on Henry Street, Port-of-Spain closes their doors permanently. Managing Director Ernesto Abraham is blaming the closure of the betting shop on the “continually increasing licenses and taxes exacted over the years by the Betting Levy Board.” The BLB is the government’s watchdog over betting shops, collecting revenues and disbursing it to local racing to subsidise the struggling sport of kings.

Goodwood had been in operation for 40 years, and according to Abraham provided over $2.75 million to the BLB in revenue annually. His shop which took in bets on English and American horseracing, greyhound racing, yachting, football, cricket, Olympic events and even results of General Elections, was the Caribbean’s largest licensed bookmaking establishment. Betting shop operators, particularly Goodwood, had a running battle with the BLB and government over the high taxation imposed on them for quite some time. And on several occasions the betting shop’s management threatened to shut their doors.

Abraham said Goodwood’s wind-up decision was influenced by inadequate legislation governing casinos and slot machines, which have proliferated on playing fields that are far from level, and put the betting shops at a distinct advantage. “We just cannot compete,” he said. And he pointed out, “the machines do not pay VAT, do not have to give maternity leave or uniform allowance.  They do not get lunch hours.” Further to this, Abraham said there were the increases in rental and other related overheads, which have steadily reduced earnings, “to the point where it would be unprofitable to continue operating.”

From a total of 36 betting shops in 1990, the closure of Goodwood brings the number of shops now in operation to just 12. But Abraham made it clear, it will only be the Henry Street shop to be closed. Those in Tunapuna and Arima will continue to operate. Among those in Port-of-Spain to fold were Newmarket, Abercromby Street; Diamante Racing Service, Park Street; Sam’s Racing service, Queen and St Vincent Street; Tote Investors, Duke Street; Central Racing Service, Independence Square.