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The Minister for Sport yesterday released the following statement to Parliament about the future of the Tote.
“In my Ministerial Written Statement on 21 July I said that, whilst the Government remained of the view that it should remove itself from detailed involvement in the affairs of the racing and bookmaking industries, the Government would need to be satisfied that it was right to proceed with a sale of the Tote in the light of prevailing market conditions.
“After further work over the summer, I have now concluded that it is not appropriate to pursue a sale in these market conditions. I have therefore decided that the Tote should be retained in public ownership for the medium-term, and brought to the market when conditions are likely to deliver value for the tax payer and racing.
“It is right that the Tote is now given time to grow the business so that any future sale will achieve maximum value. In particular, I would expect the Tote and racing to continue to work closely together for the benefit of the sport and the punter.
“Finally, the Government would like to place on record again its warm appreciation of the loyalty and dedication of the Tote’s staff whilst its future has been under consideration”.[FONT="]This effectively ends the recent period of uncertainty about the future ownership of the Tote and I’m happy to say it’s business as usual for totesport and totesport casino.
[/FONT] russell@totesport;182417 wrote:
“Finally, the Government would like to place on record again its warm appreciation of the loyalty and dedication of the Tote’s staff …”.[FONT="] [/FONT] The report obviously didn’t include mention of your name then, Russ!
We’ve also posted this story on the CAP News page. See it here: http://www.casinoaffiliateprograms.com/casino-affiliate-news/Tote-Sales-on-Hold.php
