Betfred buys the Tote

[redman41]

The Tote ends up in Private ownership for £265m !
Not the deal favoured by the Racing Industry as they were hoping Martin Broughton and his Sporting Investment partners ( SIP ) would be successful.
Redundancies and closures is the downside of any takeover.

[R1Geezer]

...and your question is?

[redman41]

There is no question, just an observation. Feel free to comment !

[Old_Geezer]

Whilst not seeing any real reason for the government to be in the betting industry, it still seems to be a story about 'selling the family silver' that slipped past my radar, until it was fait accompli. Bit annoying that.

[redman41]

Good point OG, gone the same way as our Railways and utility Co's

[New Judge]

There is no earthly reason why the State should have a stake (pardon the pun) in the gambling industry. Successive governments have been trying, quite rightly, to offload the Tote for decades (far longer than the 17 years quoted in most reports) and they have finally succeeded.

[SwerBan]

Why did they sell the Tote?

[New Judge]

Because:

There is no earthly reason why the State should have a stake (pardon the pun) in the gambling industry. Successive governments have been trying, quite rightly, to offload the Tote for decades (far longer than the 17 years quoted in most reports) and they have finally succeeded.

[Mick-Talbot]

run that by me again, new judge .............

[New Judge]

No, you've had two chances !!!!!