UK gambling sector averts levy threat

LONDON, England -- As reported by The Financial Times: "The gambling industry has staved off the government's threat of a statutory levy to fund research, education and treatment of problem gambling by agreeing to provide £15m ($24m) over the next three years to tackle addiction.

"Months of negotiations concluded with the announcement on Tuesday that trade bodies and the Responsibility in Gambling Trust, an addiction charity, had agreed voluntarily to commit a minimum of £5m a year for three years.

"Funding will be organised under a tripartite arrangement..."