The Government is this week expected to ...

Thu, 27 Nov 2003

The Government is this week expected to put the sale of the Tote bookmaking business under starter's orders on the back of record half-year results.
It is planning to table legislation permitting the sale of Britain's sole operator of horserace pool betting to a racing trust. The Tote, which has posted a 39pc rise in half-year profits to £9.2m pre-tax on turnover up 53pc to £693m, is then expected to negotiate with the Government over the price it has to pay to buy itself out of state control.