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admiral casino 24 7Finance Minister Moshe Kahlon’s gambling crackdown led to the end of GBI Racing’s operations in Israel. But GBI Racing, which is a joint venture between Racing UK and At The Races, quickly established itself in the country and made Israel one of its major markets.According to a report in the Racing Post, GBI was believed to be making about £4 million (.4 million) in revenues from Israel each year.Ban is Part of Campaign Against State-Sponsored GamblingHowever, Israel’s parliament approved legislation last year to ban horse racing betting. Finance Minister Moshe Kahlon’s gambling crackdown led to the end of GBI Racing’s operations in Israel. It was part of a campaign by Finance Minister Moshe Kahlon to eliminate state-sponsored betting, which he described as “tainted money.”When that decision was announced in July, the Israeli treasury made it clear that they were prepared to negotiate terms to get out of the remaining contract. “I got a little bit of a tax break. (Image: Kobi Kantor)The settlement provides GBI with compensation for the remainder of their contract, which was initially set to expire this coming August.Israel had only begun allowing betting on racing in 2013. hollywood casino employee benefits