Betfred plans to offload 25 percent stake in The Tote

Over the past week, numerous UK media outlets have reported the imminent sale of a 25 percent stake in the TOTE by Betfred founders Fred and Peter Done.

According to Sky News, who broke the story, the prospective sale is valued at GBP 30 million and talks with a ‘consortium of racing industry figures’ are nearing finalisation.

Betfred’s 7-year exclusivity on the TOTE operations comes to an end in mid-July and a conglomerate of at least 54 prominent British racetracks will launch their own in-house on-course betting and online service under the recently revealed BritBet consumer facing brand (see previous reports) – the notable exception being Ascot who is reportedly working on its own in-house offer with the TOTE.

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