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UK Tote Group Acquires the Tote and Announces New Plans

The consortium of owners of UK Tote Group racetracks acquired the British billiard betting company Tote. This group, previously called Alizeti, has full control of Tote and has drawn up a plan to modernize and revitalize that British institution with more than 90 years of operation.

Uk Tote Group wants to develop the brand and through a series of strategies improve the customer experience. The initial action plan includes the soon launch of a new official Tote website and reintroducing the Tote Ten to Follow function but in a more modern format.

The UK Tote Group team has initiated discussions to expand partnerships and facilitate the sale of Tote products at retail outlets and digital stores, also through foreign billiard betting operators.

Already UK Tote Group had been operating the Tote in association with the British betting company Betfred. Through this the group had a minority interest in the business.

“Today marks the beginning of a new and exciting era for Tote. Pool bets play a leading role in racing jurisdictions around the world and we believe that Tote can play a similar role in the UK, while supports and develops British careers for years to come.” said Alex Frost, executive director of the UK Tote Group.

He added that the group has

“received great encouragement and support from the owners, coaches, breeders, racetracks and those in the administration of the sport, for which we are greatly grateful.”

Among the terms of the acquisition agreement is the UK Tote Group, which pays the Horserace betting rate. It also includes continuing the partnership with Britbet, through which the group obtains the operation of the Tote in 55 British racetracks in the next seven years. This agreement with Britbet reached in October last year, has a value of £ 50m (€ 58.1m / $ 64.7m) approximately.

“Turn Tote into a successful business”

“We welcome today’s news that provide clarity about the future of Tote. We look forward to continuing to work with the UK Tote Group team to offer innovation and investment that will allow pool bets to thrive and, in turn, serve the sport we love,” said Britbet President Neil Goulden.

He added that

“together with the new technology that we have implemented in the 55 Britbet racetracks since July last year, today’s news gives us the scope to develop the racecourse experience for customers.”

Some 160 individual investors, most of them owners and breeders of racehorses, support the UK Tote Group.

The group’s president, Eamonn Wilmott, said:

“We have assembled a first-class executive team with a rare combination of passion, experience and expertise, which are completely focused on ensuring that Tote has a bright future.”

He pointed out that this is just the beginning of the plans they have in mind

“to turn Tote into a successful and socially responsible business that really cares about its customers and staff and returns the sport we love: a renewed Tote that we can all feel proud.”

Source: https://www.igamingbusiness.com/news/uk-tote-group-finalises-acquisition-tote

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Santiago Contreras

Santiago Contreras

I am a professional journalist dedicated to tracking news related to the stock market, business, finance, blockchain and economics. It is a hobby that I share with sports in general, with special attention to tennis, basketball and soccer. I like to offer our readers relevant, entertaining and useful content to help them inform themselves and make decisions every day. Thanks for reading me!

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