The British bookmaker and online casino operator William Hill has indicated that they are interested in buying the betting monopoly of the British government the Tote, even though the current legislation is likely to stop the acquisition.
The English sports betting monopoly Tote is a major player in the country and the purchase will increase William Hill’s presence in the country significantly. Besides William Hill, Internet gambling operators Paddy Power and Ladbrokes also expressed their interest take over to the gambling monopoly. Last week, the Secretary of State said that they have no need for the Tote as part of the public sector account.
Ralph Topping, the CEO at William Hill said: “To ensure that this is truly an “open market” sale we believe that the Office of Fair Trading needs to revisit the archaic competition tests which have looked at the market in terms of betting shops, the true market is a global one that includes online and betting exchanges.” He continued saying: “We would be disappointed if the “open market” sale was burdened with any onerous preconditions which might reduce the sale value of the Tote. To those who think these archaic competition tests from the turn of the century are appropriate, we suggest they Google the word ‘betting’ and wake up to the global market at their fingertips.”
The British government has indicated that the sale of the Tote will take place at the end of the Autumn as part of a wider sale of government assets and that the sale will be an “open market” process inviting proposals from all interested gambling companies.
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