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Cash Strapped Uk To Put Tote Up For Sale

Late autumn bidding date likely
 
The new UK coalition government is to follow its predecessors in attempting once again to sell the Tote bookmaking organisation, reports the newspaper CityAM.
 
It is expected that the sale of the state-owned bookie will take place in the late autumn, according to minister for tourism and heritage John Penrose in a statement to parliament Wednesday.
 
CityAM notes that the disposal of the Tote, which takes bets on horse racing, football and other sports, forms part of a wider sale of government assets as the country strives to close a yawning budget gap.
 
“This process will be open to all organisations who have an interest in the Tote, and the government expects to be in a position to update the House early in the new year,” said the minister.
 
Private-sector rivals such as Paddy Power and Ladbrokes have previously said they could be interested, but only at the right price.
 
The previous Labour government’s attempts to sell Tote were cancelled in 2008  due to poor market conditions. The company was thought to be worth upwards of GBP300 million at the time.
 
Current Chancellor of the Exchequer George Osborne announced in his June emergency budget that he planned a future for Tote that “secures value for the taxpayers”. It will now be put onto the open market.

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Gambling News :

Betsoft Gaming In Deal With SuprNation - Betsoft Gaming’s latest content supply partnership will see its Slots3 collection launched on VoodooDreams.com, SuprNation’s primarily Swedish and Nordic focused online gaming operation.

Ladbrokes New SPonsor of The Hennessy Gold Cup - The longest sponsorship deal in the history of British horse racing has come to an end with Ladbrokes becoming the new sponsor of the race formerly known as The Hennessy Gold Cup for the next five years, Racing Post reports.

Ladbrokes Appoints Annemarie Durbin - Durbin, a qualified lawyer with over two decades of international banking experience, will also take up membership of the Audit, Remuneration, Social Responsibility and Nomination Committees with effect from March 1, 2017.

Olympus Slot Pays $210k Jackpot to USA Player - “I love slots, been playing a long time. I go to Vegas once a year. In between I play online. It’s so convenient. I play mostly Hold the Riches, Pyramid Plunder, Dollar Storm or Olympus. I’ve also started playing keno more.”

Divine Fortune SLot Launches - NetEnt has launched a new local jackpot title “Divine Fortune”, a five-reel, 3-row, twenty-fixed line video slot themed on ancient Greece and a world of mythical creatures, legendary riches, and golden coins.

BetatHome profit guidance for the 2016 financial year - bet-at-home.com AG has lifted its profit guidance for the 2016 financial year following what it terms a “supremely positive business development in the fourth quarter”.

Aussie Millions $1,150 buy-in No-limit Hold’em Accumulator Results - In the latest Aussie Millions event - the A$1,150 buy-in No-limit Hold’em Accumulator, local poker pro Bridges Roe prevailed against a field of 721 to claim the main prize of A$160,725, despite starting the final day at the bottom of the chip counts.

2 Huge Wins at Bovada Casino - Paul D. from Boston, MA, scored really big, earning $808,529.80 playing the Food Fight progressive jackpot slot on the Bovada online casino on a wager of $11.25. Unfortunately Bovada's press release does not give any further details.

China Internet Clean Up Campaigns - The advisory revealed that the current drive will run through to the end of March 2018, and that online gambling and other inappropriate or unacceptable content must be blocked because:

AOPA to campaign for poker to be left alone - The threat that amendments to the federal Australian Interactive Gaming Act aimed at stopping in-play action could spill over into an online poker ban has motivated Aussie players to form an action group in support of the game.

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