Core Viewpoint - The UK horse racing industry is facing a severe crisis due to the Treasury's proposal to increase the online betting tax rate from 15% to 21%, which could significantly impact the industry's survival and development [1][3]. Group 1: Economic Impact - The horse racing industry is the second largest sport in the UK, contributing significantly to local economies and employment [3]. - Research indicates that the proposed tax increase could lead to a loss of £66 million in the first year and a total of £330 million over the next five years for the UK horse racing industry [5]. - The tax rate adjustment could threaten thousands of jobs, with specific regions like Yorkshire projected to lose 342 jobs [8]. Group 2: Industry Response - The horse racing community has united to protest against the tax policy change, with the British Horseracing Authority launching a petition to "Abolish the Horse Racing Tax" that has garnered support from industry figures and the public [7]. - The horse racing industry supports a complex ecosystem, affecting various sectors from trainers to feed suppliers, and the tax increase could disrupt this supply chain [8]. Group 3: Cultural and Economic Significance - Horse racing is not only a sporting event but also a cultural and economic symbol, with local courts, pubs, hotels, and restaurants benefiting directly from the industry [10]. - The potential decline of the horse racing industry due to tax adjustments could have a significant negative impact on the economies of many towns and villages [10]. Group 4: Ongoing Debate - The British Horseracing Authority is seeking more support to persuade the government to reconsider the potential losses from the tax policy implementation [10]. - There is ongoing debate among parliament members, with some supporting the tax increase for fiscal reasons, while industry insiders warn of the devastating impact on the horse racing sector and the socio-economic system built over the years [10].

Financial Data and Key Metrics Changes - The preliminary voting results indicated that proposals one, two, three, and four were approved by more than 95% of the total voting power, while proposal five was rejected, receiving less than 4% of the total voting power [16]. Business Line Data and Key Metrics Changes - No specific data or metrics related to individual business lines were discussed during the meeting [15]. Market Data and Key Metrics Changes - No specific market data or metrics were provided in the meeting [15]. Company Strategy and Development Direction and Industry Competition - The company did not provide detailed comments on its strategy or competitive landscape during this meeting [15]. Management's Comments on Operating Environment and Future Outlook - Management did not offer specific insights regarding the operating environment or future outlook during the meeting [15]. Other Important Information - The meeting included a proposal from the New York City Comptroller's office regarding the disclosure of director gender, race, and ethnicity, which was ultimately rejected [10][12][16]. Q&A Session Summary Question: Were there any appropriate questions received during the meeting? - There were no appropriate questions received regarding the business of this shareholder meeting [15].