Casino News: Betfred bids for Tote

Betfred bids for Tote

 December 15, 2010, 10:47 am (8 years ago)
Since the last three years, Tote bookmaker, a government owned site has been held up with severe issues about the estimated value of the particular company. However it seems that Totesport is going to now be sold well less than its price which was £400 million and was put in 2007. However, at the present moment several of the online bookmakers are interested in the site and the leading group Betfred has also placed a bid for Tote alongside several other sportsbooks.

The last day to bid for the Totesport bookmakers was Friday and it seems that the sale of the online site will conclude somewhere near £250 million. Initially Paddy Power Online bided for the online site and was followed in quick succession by Gala Coral and Sportech. Several other small bookmakers also placed bids for the site but the final bid came from Betfred eventually closing the bidding process.

The William Hill online sportsbook have been ruled out of the bidding process on competition grounds by the monopolies commission.

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