William Hill Expresses Interest in Tote

Leading bookmakers William Hill have said that they may join the list of bookies interested in buying the government run Tote betting shops. Paddy Power, Boylesports and Ladbrokes have all said that they would consider the proposal should the state-owned organisation be put up for sale. 

The announcement by William Hill could force the others hands, who have said their interest is only based on the price being right. Such a strong contender will place any possible sale in a new light and give the winning bidders an instant expansion into a still buoyant market, which despite the economic crisis is still in relatively good shape. 

Secretary of State Jeremy Hill, speaking for the coalition said, “we have no desire to keep the Tote as part of the public sector.” The sale would mean that 500 betting shops across the UK going up for sale giving anyone a considerable boost in market shares. 

William Hill have said that current government gambling laws covering competition are seriously “archaic” and the office of fair trading needs to take a look at the truly global nature of the gambling industry to appreciate this. 

A spokesperson for the government has said that the sale of the Tote would be set in motion towards the end of the autumn and form part of a greater disposal of assets. The sale will be subject to “an open market process” with bids being submitted from all interested parties.