Betfred to buy Tote

In The Metro of this morning, London.

Attached files

Do use the tote in the UK don?

sometimes.

£400M the TOTE was valued at a couple of years ago...


The Jockey Club opposes the sale and wants the Tote to remain independent.

Betfred's finance director Barry Nightingale said the firm wanted to provide long-term support to the horse racing industry and "would be a natural partner for the Tote".

Other potential buyers could include Paddy Power, Gala Coral, Sportech, South African Tote, and France's PMU.

yes, interesting that :S
given the situation in SAF - who would've thought? are we missing something?

I have been told that Uk tote pools on daily racing are pretty poorand that the SA pools are far bigger . Apart from scoop six .

Is this true ?

win pools are pretty shit,as are exactas and trifectas but todays placepot pools where both around the R1m

Given what the Tote means here, the fact the fact that the Tote(UK) is for sale is riveting stuff.

The tote in SA is the life's blood of our industry, whilst the UK tote in only ranked 4th amongst other bookmakers.

Depending how much the tote 'has' to contribute to racing, it has an incredible business model because it makes money on turnover and risks nothing but running expenses.

Anyone with ideas to buy it should realize that the Tote is just another dog in the fight there, with some additional obligations to racing.

The Tote(UK) seems to be for sale at R2.5 Billion and they made about R80 mill nett.

I suppose if you bought a tote from a government, you would need assurances that you get to be the 'only' tote once it's privatized?
Maybe those 3 bigger bookmakers are really totes in disguise...you know...many shops all linked by computers.
Like here.
But with limited payouts.
You have to love this shit!

Jack the big 4 all take tote bets,but they are all passed onto the tote,its a different story in the rest of the shops though...

All companies that make a bid have to submit their plans and show they will be good for racing in the uk

update:
www.azonlinecasinos.com/news/20110131/sa...esses-to-next-stage/

SALE OF UK TOTE PROGRESSES TO NEXT STAGE (Update)
31st January, 2011 at 14:49:48
Source: www.azonlinecasinos.com


Names of contenders invited to proceed will not be made public

The UK minister for tourism and heritage, John Penrose released a statement on the progress of the proposed £200 million sale of the UK Tote this week.

The Government has confirmed that the first stage of the open market process has been successful and that eighteen proposals had been received and reviewed (see previous reports) for the purchase of the state-owned betting group.

Following the review, a selected number of parties (six according to Reuters) have been invited to advance to the next stage; however the Government will not be making the identity of these bidders public due to the "commercially sensitive nature" of the process. Favourites are rumoured to include Betfred , Gala Coral , a consortium led by Chris Bell (former Ladbrokes chief executive) and a group led by British Airways Chairman, Sir Martin Broughton .

The statement confirms that in the event that the Tote is sold on the open market it will honour the previous Government's commitment to share 50% of the net cash proceeds of the sale with UK Racing.

Paul Roy , chairman of the British Horseracing Authority , said: "Racing welcomes the Government's latest steps in resolving the future of the Tote, and particularly that Racing interests are central to a successful outcome. We look forward to continuing to work closely with Government to get the best outcome for the sport."

The Minister expects to update parliament "in the spring" (March/April/May) and has said it aims to complete the sale by May 2011.