The Tote to Float?
UK Government Keen to Sell Tote
The UK Minister of Sport, Gerry Sutcliffe said that his department is moving full steam ahead regarding the sale of the UK Tote on the open market. If all goes according to plan, and if a company is willing to pay at least the £400 million asking price, the sale could take place as early as this coming fall.
In a statement to parliament, Sutcliffe said: “The government remains of the view that it is appropriate that it removes itself from detailed involvement in the affairs of the racing and bookmaking industries.
We also want to give certainty to the Tote and its businesses so that they can develop and flourish for the benefit of their staff and racing.
The Government intends to commission detailed work on the Tote to be undertaken during the course of the summer, which would provide the necessary groundwork to launch a sale in the autumn.”
The Tote also runs the popular Totesport Casino as well as poker.
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