Breaking: Betfred being reported as “preferred” Tote bidder
It is being reported on Thursday evening (2 June 2011) that Betfred will be named as the “preferred bidder” in the process to buy the state-owned Tote betting firm.
The deal is not yet completed but it is thought that the Tote is Betfred’s to lose if any complications arise in the final stages of inking the deal over the coming week.
Betfred’s remaining competitor in the process is former British Horseracing Board chairman Sir Martin Broughton’s Sports Investment Partners (SIP). The SIP bid proposed an IPO for the Tote and was the bid favoured by racing itself.
But in this marathon bidding race, no-one will be lining up to collect their winnings until the judge has called the result.
More news as it is confirmed.
GBGC is an independent, specialist gambling consultancy firm dedicated to providing gambling data, research, industry trends, and advice to the international gambling industry.
GBGC also produces the comprehensive Global Gambling Report, currently in its sixth edition, as well as online gambling statistics and analysis on the Interactive Gambling sector.
The gambling statistics and forecasts that are contained within the Global Gambling Report have become widely recognised within the industry, the financial community and the Media, as the industry standard for sizing both the online and offline gambling markets.