|
Gala Coral Bids for Tote
The state owned bookmaker the Tote, founded in 1928 by Winston Churchill, has been embroiled in the industry's recent mergers and acquisitions merry-go-round, after Gala Coral confirmed it has made an offer for the business which could fetch as much as £405 million.
Gala said in a statement that it would prefer to bid solely for the Tote's 540 betting shops, which it values at £325m but would consider other options depending on how the government views its proposals.
Under Gala's alternative plans, it could offer £405m for the entire business, after which it would sell on Tote's on-course betting, telephone betting and internet betting operations, which Gala values at around £80m.
However, the Department of Culture, Media and Sport said last night that the government 'had not yet invited any bids for the Tote'.
The news follows earlier speculation surrounding former Tote boss John Heaton, now in charge of Interactive Gaming Holdings (IGH), when he indicated that IGH may be prepared to bid for the Tote should it come up for auction.
Tote operating profits fell 3.3 percent to £23.4m last year because of poor horse-racing results while turnover grew 16.9 percent to £2.21 billion.
Channel 4 does gaming
Channel 4's interactive division, 4Interactive, has joined up with leading European digital media company Buongiorno to provide Channel 4 viewers with mobile games for the first time. Visitors to the broadcaster's website will be able to download games such as Spiderman 2, Garfield and Olympio Challenge to play on their mobile phones.
Viewers can choose between a range of five different mobile games, which can be purchased either over the phone or via text at a cost of £4.50 each. In addition, a 'game of the week' will be selected and reviewed on the website, providing consumers with an inside guide on how to play, along with a user rating.
Andy Taylor, head of 4Interactive said: 'Channel 4 viewers have a strong appetite for online games and it is a sensible next step to provide them with entertainment they can carry with them on their mobiles. We are delighted to be offering this new service and believe Buongiorno's track record in the mobile content arena makes them the perfect partner.'
New Lottery Licence To Run For 15 Years
The government has ruled that the next licence to run the National Lottery can last 15 years, more than double its current length.
The news waves the green flag on the bidding war for control of the world's most successful betting game.
The biggest bookmakers are almost certain to enter the competition following the government's announcement.
The government last Friday gave the National Lottery Commission the power to issue a single licence for the distribution of the lottery products including the main game, scratchcards, mobile phones and the internet - for up to 15 years.
It amounts to a U-turn by Culture Secretary Tessa Jowell who previously wanted to break it up into three parts.
This weekend Camelot, the National Lottery operator, said: 'The government's policy position is likely to deliver a very robust competition for the next lottery licence - something Camelot Group has always advocated and warmly welcomes.'
|
|
