|In the UK, former Rank and Ladbrokes Chief Executive Mike Smith has been appointed as the new Chairman of The Tote, the only organisation in Great Britain allowed to run pool betting on horseracing.|
Announced by Gerry Sutcliffe, the Home Office Minister for the Department for Culture, Media and Sport, Smith replaces interim Chairman Sir Ian Good from this week and will serve for three years or until The Tote is sold.
'I'm very pleased Mike Smith has agreed to take on the role of Tote Chair,” said Sutcliffe.
“He has significant industry expertise that will prove invaluable during this important period for The Tote as will his extensive track record in leading gaming businesses through mergers and acquisitions. I am confident he will provide the kind of leadership needed to help grow The Tote's business at the same time as seeing it through any sale process.
“I'd also like to place on record my thanks to Sir Ian Good. He has managed the business successfully while the search for Peter Jones's successor has been taking place.'
In March, the Government announced its intention to prepare the State-owned organisation for an open market sale, ending its exclusive negotiations with racing.
'I am delighted to join The Tote and to work with its established team, some of whom I already know,” said Smith.
“I will prioritise getting to know all the staff at Tote headquarters in Wigan in the coming weeks. We all recognise the need to bring certainty to The Tote's future as quickly as possible.'