23rd of November 2010 Author: Johnny Karp
UK Government to take bids for retail operation
This week, a novelty was announced in the sale of the UK Tote, as it was reported that UK Government is ready to abort selling the whole operation which comprises of 517 betting shops and on-course betting (Totesport), and have it sold in parts.
It was added that the Government is prepared to take bids for only the retail part of the operation. Some of the companies contacted last week and presented with information documents by the Investment Bank facilitating the sale, were Lazards, Betfred, Gala Coral, Sportech, and William Hill.
First bids should come in by Dec. 10, and according to certain assessments, the Tote could reach as high as GBP 200 million.
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