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BETFRED REVEALS PLANS IN BID FOR TOTE
Posted on 5/19/11
Strong commitment to the future of horseracing, says bookmaker
Should UK Bookmaker Betfred's bid for the tote be successful, the firm has revealed it will return GBP 11 million to horseracing in 2012, followed by a minimum of GBP 9 million in each of the subsequent six years if racing meets a number of commercial agreements.
The bid, valued at around GBP 200 million contains year-on-year payments, combined with Government's commitment to return 50 percent of the net proceeds of the sale to Racing, representing a substantial offer to the British horseracing industry.
Fred Done, Executive Chairman of Betfred said: "The UK has the greatest horseracing in the world and we want the sport to thrive - that's why our bid contains a strong commitment to the horseracing industry. We're also delighted that the Government has chosen to return 50% of the net proceeds of the sale to Racing, so I believe a successful Betfred bid will see a financial return of at least GBP120 million.
"We have a forty year track record of delivering growth and creating jobs. We want to buy the Tote because we want to grow and develop all of its component parts; and, in the long term, I believe the pool business will be the most important of those. We have designed our offer to meet all the criteria Government has laid out. Our offer is fully financed and we have everything needed to conclude a transaction now."
Should the bid succeed, the firm says it will place the contribution to Racing on a more formal, certain and transparent basis than is presently the case and intends to enter into commercial arrangements with racecourses and others.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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