News story

Sale of Tote completed

BetFred take over state-owned betting firm; proceeds to support racing industry.

• From: Department for Digital, Culture, Media & Sport and John Penrose
• Published: 14 July 2011

This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

Gambling Minister John Penrose today announced that the Government has completed the sale of the Tote to Lightcatch Ltd, the parent company of Betfred.

In a Written Ministerial Statement, Mr Penrose expressed thanks for the work of the Board and staff of the Tote, past and present, and wished the new combined business a successful future.

The Government will now enter into detailed discussions with representatives of the racing industry on the design of a scheme for disbursing its share of the net proceeds of sale in a manner which complies with EU State Aid rules.

Further information

• Written Ministerial Statement
• News: Tote to be sold to BetFred for £265 million
• BetFred corporate website 
• Racing and gambling: what we do

Published 14 July 2011