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The British company on the organization of the race demands that Israel multimillion-dollar compensation

A British company, GBI, specializing in the management of racetracks and racing organizations, requires the Ministry of Finance of Israel a large compensation for breach of contract unilaterally.

The contract with GBI was signed by the national office of sports betting. The signed contract is valid until August 2018.

However, in March 2017, the Knesset approved a law prohibiting, among other things, to bet on horse racing, in connection with which the Department is unable to fulfil its part of obligations.

The exact amount of compensation was determined in negotiations, however, according to the Marker, the breach of contract will cost 100-200 million shekels.

The British company on the organization of the race demands that Israel multimillion-dollar compensation 03.07.2017

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