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LICENSED TO SWILL; Camelot's chiefs to get new hidden pounds 1.2m bonus.

Camelot lottery chiefs are heading for a whopping pounds 1.2million pay top-up.

The fat cat bosses were condemned for "unacceptable" greed yesterday after unveiling pounds 77.5million profits - pounds 1.5million a WEEK.

But there's even better news for the company's five directors.

Next year, provided the cash continues to roll in, they will receive special three-year bonuses worth nearly one and a half times their basic salaries. The lump sums will come on TOP of pounds 430,000 worth of annual bonuses which will boost their wages by 50 per cent.

Chief executive Tim Holley currently on pounds 250,000 a year, would collect an extra pounds 350,000.

Finance director Peter Murphy would get an extra pounds 230,000, operations director David Clark pounds 210,000, commercial director

Norman Hawkins a maximum of pounds 190,000 and PR boss David Rigg up to pounds 175,000.

The firm will also fork out another pounds 350,000 plus for the directors' pensions.

Camelot's giant profits were condemned by MPs yesterday.

Furious Labour MP Joe Ashton - a member of the Commons National Heritage Committee - said: "It's not a licence to print money, it's a licence to pinch money - like shovelling notes into a furniture van."

Labour's Gordon Prentice said Camelot's profits and the bosses' bonuses were "simply unacceptable".

Calling for the lottery to be run by a non-profit making organisation, he said: "When are we going to start giving money to good causes and stop lining the pockets of fat cats?"

Shadow Heritage Secretary Jack Cunningham said: "This is another private monopoly set up by a Conservative government. It's a one-way bet on a one-horse race."

But Premier John Major said Camelot had run the lottery "spectacularly well," and described the company's pounds 500,000 contribution to charity as "substantial".

Tycoon Richard Branson - whose lottery bid failed - sneered at Camelot's ad campaign which says its job is not a piece of cake. He said: "They're right. They've had their cake - and eaten it."

Charities and voluntary organisations also weighed in.

Chris Pond, director of the Low Pay Unit, said the unemployed and low paid spent fives times more on lotto tickets than the well-off.

He accused Camelot of "acting like Robin Hood in reverse - taking from the poor to give to the rich."

The National Council for Voluntary Organisations estimated the lottery had cost its 700 good causes pounds 300million.

Chief executive Stuart Etherington said: "Camelot should hand over a higher level of its profits."

The director general of the Cancer Research Campaign, Professor Gordon McVie, said he was "outraged".

He said: "One bonus of pounds 120,000 is almost double the total contribution of the lottery towards cancer research last year." But Camelot's chairman Sir George Russell defended the company's profits and the directors' pay.

Sir George, paid pounds 50,000 for his part-time role, said: "I don't see why anyone should be ashamed of receiving the maximum bonus.

"The bonuses are based on precise criteria and reflect the lottery's success. If the lottery wasn't raising so much money for good causes they wouldn't be paid."

Mr Holley highlighted independent research which judged the British lottery the most efficient in the world.

More than 30 million people a week regularly had a flutter. Camelot had paid out pounds 2.6billion in prize money and raised pounds 1.4billion for good causes in the year.

THE BBC is using pounds 550,000 a year of licence payers' money to broadcast the National Lottery Live show. Camelot have reportedly signed a three- year deal worth pounds 1.65million with the Beeb.

Last month, the National Heritage Committee said it was unacceptable that Camelot should be able to demand money for the right to broadcast the draw.

Comment - Page 6

NEXT YEAR'S PAY PACKAGE FOR GREEDY KINGS OF CAMELOOT

DAVID CLARK

Basic Pay:

pounds 150,000

50% annual bonus:

pounds 75,000

140% 3-year bonus:

pounds 210,000

TOTAL:

pounds 435,000

TIM HOLLEY

Basic Pay:

pounds 250,000

50% annual bonus:

pounds 125,000

140% 3-year bonus:

pounds 350,000

TOTAL:

pounds 725,000

DAVID RIGG

Basic Pay:

pounds 125,000

50% annual bonus:

pounds 62,500

140% 3-year bonus:

pounds 175,000

TOTAL:

pounds 362,500

PETER MURPHY

Basic Pay:

pounds 165,000

50% annual bonus:

pounds 82,500

140% 3-year bonus:

pounds 230,000

TOTAL:

pounds 477,500

NORMAN HAWKINS

Basic Pay:

pounds 135,000

50% annual bonus:

pounds 67,500

140% 3-year bonus:

pounds 190,000

TOTAL:

pounds 392,500
COPYRIGHT 1996 MGN LTD
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Copyright 1996 Gale, Cengage Learning. All rights reserved.

Article Details
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Author:Manning, Clinton
Publication:The Mirror (London, England)
Date:Jun 5, 1996
Words:753
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