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BRITISH RACING TO BENEFIT FROM TOTE SALE

Posted 2/5/11 : GBP50 million bonus in prospect
 
Conservative estimates that the British government's sale of the Tote gambling group will realise around GBP100 million in net profit will see the British horseracing industry benefitting by GBP50 million, according to reports in the UK media as the week ended.
 
The cash bonanza would flow from the government's undertaking to donate half the net profits of such a sale to the industry, a promise confirmed in a recent official statement that read: “…in the event that the Tote is sold on the open market, it [the government] will honour the commitment of the previous government to share 50 percent of the net cash proceeds of sale with racing."
 
The British Horseracing Authority has greeted the confirmation with enthusiasm, with chairman Paul Roy telling media this week: “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 short-list of acceptable bidders is currently awaited from the government's agents in the sell-off initiative, with bidders said to include the Reuben Brothers, Betfred, at least one private equity group and Gala Coral.

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Gambling News :

IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

Magic Spells SLot Launches - The penny slots’ Wild symbol is a bubbling cauldron which is an Expanded Wild that can cover up to four positions for multiple winning combinations.

Mega Moolah progressive jackpot slot was hit for Euro 6,078,249.33 - Identified as N.C., the player was a novice who signed up to the online casino on a new customer bonus offering 100 chances to become a millionaire for Euro 5.

Lightning Box Games in Deal With Everi Games - Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.

Storspiller HighRoller Casino Launches - Storspiller.com is targeted at “high rollers” within Kindred’s total registered customer base who play for GBP 200 or more per month.

Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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