Online Casino Style: News - Tote Back on the Block

10/01/2010		Online Casino Style - News: Tote Back on the Block
Home History Games News Dictionary		The online gambling industry is being rehashed once again this fall with the reintroduction of the Tote state betting institution to the selling block once again, as the British government confirmed this week that they were putting the brand up for auction. The possibly future that lays ahead of Tote has resulted then in an inordinate amount of speculation from online gambling experts over the weekend. The potential buyers up for the sale are being postulated as the powerhouses of the UK internet gambling market – such as Paddy Power, Sportech, Ladbrokes, and Betfred. Tote has been around since its establishment by Winston Churchill in 1928 to protect British gamblers by giving them a state-run option. Though it makes the most sense to find a purchaser that is already in the highly competitive online gambling market, though is has been rumored that some private equity firms and horse racing industry are taking closer looks at the possibility as well, striking up potential bid plans for the impending race. Though many of the potential suitors were interested the last time Tote went up for sale, the biggest interest is rumored to be William Hill, but their interest comes with stipulations. WH reps have confirmed that a big might be entertained if the UK laws can be changed more to Hill’s liking, with the prime objective being a change as to what constitutes competition in the market. "We don't think that we should be ruled out of the competition," Andrew Lyman, a William Hill executive, told The Daily Mail. "We are looking to seek a change in the definition of what is termed as competition in this market." They’re not the only ones, as another company said that they had intentions of changing the market in the coming years. The purchase of the Tote would be a big step for any internet gambling company looking to expand their presence in the UK market, something that William Hill has been very explicit about doing.

10/01/2010

Online Casino Style - News:
Tote Back on the Block

The online gambling industry is being rehashed once again this fall with the reintroduction of the Tote state betting institution to the selling block once again, as the British government confirmed this week that they were putting the brand up for auction. The possibly future that lays ahead of Tote has resulted then in an inordinate amount of speculation from online gambling experts over the weekend.

The potential buyers up for the sale are being postulated as the powerhouses of the UK internet gambling market – such as Paddy Power, Sportech, Ladbrokes, and Betfred. Tote has been around since its establishment by Winston Churchill in 1928 to protect British gamblers by giving them a state-run option. Though it makes the most sense to find a purchaser that is already in the highly competitive online gambling market, though is has been rumored that some private equity firms and horse racing industry are taking closer looks at the possibility as well, striking up potential bid plans for the impending race.

Though many of the potential suitors were interested the last time Tote went up for sale, the biggest interest is rumored to be William Hill, but their interest comes with stipulations. WH reps have confirmed that a big might be entertained if the UK laws can be changed more to Hill’s liking, with the prime objective being a change as to what constitutes competition in the market.

"We don't think that we should be ruled out of the competition," Andrew Lyman, a William Hill executive, told The Daily Mail. "We are looking to seek a change in the definition of what is termed as competition in this market." They’re not the only ones, as another company said that they had intentions of changing the market in the coming years. The purchase of the Tote would be a big step for any internet gambling company looking to expand their presence in the UK market, something that William Hill has been very explicit about doing.