Following a meeting with sports minister Richard Caborn and the DCMS, the UK Treasury has agreed to further discuss the current £400 million bid for the Tote with the consortium comprising representatives of the racing industry alongside Tote’s managemnt and staff. The Treasure will approve the deal only if Lloyds TSB reduces its level of financial involvement and relative influence on the Tote’s board.
The Tote recently announced a 10 per cent increase in group turnover and a record profit of over £30 million, up from £23.5m the year before.
In other news, Brand Republic reported that Irish pay-TV broadcaster Setanta is looking for a gambling partner to operate Premiership football betting via mobile phones.
TurfTV announced to have negotiated preferential terms to provide racing pictures to members of the Independent Bookmakers’ Association. The deal could result in 1,500 betting shops signing up to the new racing pictures service.
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