Another option for Europe\’s largest betting firm is to pay £325m cash for the betting shop estate of the Tote, with the rest of the business, including the on-course pool betting operation along with the internet and telephone betting businesses, staying with the UK Government. Gala suggested the pool betting operation could then be gifted to the British racing industry with Coral managing it on an at-cost basis.
“Racing would get the pool-betting operation. It would give the Tote employees job security and continuity The DCMS would get what it wants, which is a deal with racing, and it would also give the Treasury and the Europe Commission what they want,” commented Neil Goulden, CEO of Gala Coral.
“Pool betting is a hi-tech business and it needs investment. Racing would have to invest to take the business forward, or they could do a contract,” he added.
“If we were to run the Tote for racing, we would bring in Scientific Games. They\’ve got the systems and the technology. They would put money in and look for a return from the improvement they\’d get out of the Tote. Racing wouldn\’t have to put in its own money.”
Calculators
