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Ascot Racecourse and Tote Extend Partnership for Five Years

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Ascot Racecourse and the Tote have joined forces once again, solidifying their partnership with a renewed agreement set to span five years, starting from January 1, 2024.

This renewed commitment marks a significant milestone in the world of horse racing and betting, as Ascot Racecourse and the Tote aim to enhance and expand pool betting in the UK.

Under this agreement, all pool bets placed on races at Ascot Racecourse will continue to contribute to the UK pool’s liquidity, a system managed by the UK Tote Group since October 2019.

This includes bets made on-site under the “Bet with Ascot” brand, online through tote.co.uk, and via various bookmakers and third-party partners.

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A Successful Partnership

Over the past four years, Ascot Racecourse and the Tote have nurtured a successful partnership, resulting in consistent year-on-year growth in pool betting on Ascot races. Both parties are committed to further accelerating this growth under the renewed agreement, buoyed by the appeal of Ascot’s racing events and innovative developments in UK pool betting.

Since 2020, there has been a notable increase in remote Business-to-Consumer (B2C) turnover from British and Irish customers betting on tote.co.uk/.ie during Ascot races. International turnover has also witnessed substantial growth, partly due to the World Pool initiative, which has expanded the reach and popularity of Ascot races on a global scale.

Ascot’s Role in the World Pool

Ascot Racecourse has played a pivotal role in the World Pool initiative since its inception at Royal Ascot in June 2019. The Royal Meeting set a successful precedent for the World Pool model, where Tote operators from 28 countries collaborate to combine their pools, hosted by the Hong Kong Jockey Club. This initiative significantly boosts liquidity and enhances the betting experience for racing enthusiasts.

In 2023, the number of British and Irish World Pool days increased to 17, leading to higher media rights payments and more robust pools. Notably, Tote Win bets on winners during British and Irish World Pool days paid significantly more than the industry’s Starting Price, attracting a wider audience of bettors.

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Future Collaborations and Growth

Looking ahead to 2024, Ascot Racecourse, in conjunction with other British racecourses and the Tote, will work closely with the Hong Kong Jockey Club to further expand the World Pool. The focus will be on ensuring competitive race fields on World Pool days to attract heightened betting interest. Simultaneously, the Tote will continue its efforts to enhance the value and overall experience of pool betting for racing fans.

Alastair Warwick, Chief Executive of Ascot Racecourse, expressed his enthusiasm for the renewed partnership, highlighting their commitment to supporting the continued development of World Pool and expanding the sport’s reach to a growing domestic and global audience.

Alex Frost, Chief Executive of the UK Tote Group, emphasized the importance of this partnership in achieving a strong UK Pool and advancing the sustainability of horse racing. He extended his gratitude to Ascot Racecourse for their unwavering support and looked forward to continuing this partnership for the next five years.

The extension of the partnership between Ascot Racecourse and the Tote signifies a bright future for horse racing and pool betting in the UK, fostering growth, sustainability, and a thrilling betting experience for enthusiasts worldwide.

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Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

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Business

FDJ’s Acquisition of Kindred Group Shaping the Future of Global Gaming

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FDJ’s acquisition of Kindred Group, facilitated by regulatory approval and strategic shareholder engagement, signifies a transformative moment in the gaming industry. This deal exemplifies the intricate balance between regulatory compliance, shareholder value, and strategic growth ambitions. As the industry stands at the cusp of further consolidation and innovation, the FDJ-Kindred transaction heralds a new era of strategic realignment and competitive positioning in the global gaming landscape.


A Monumental Shift in Gaming Dynamics

The Swedish Financial Market Supervisory Authority (SFSA)‘s approval of Française des Jeux’s (FDJ) offer to acquire Kindred Group marks a pivotal moment in the global gaming and betting sector. This green light not only accelerates FDJ’s strategic expansion but also underscores the evolving landscape of international gaming regulations and corporate alignments.

Navigating Regulatory Waters

The SFSA’s endorsement is a crucial step in FDJ’s ambitious acquisition plan, setting the stage for a public offer slated to commence imminently. This regulatory approval highlights the meticulous scrutiny and compliance standards governing mergers and acquisitions within the sector, ensuring that such transactions align with market stability and shareholder interests.

A Call to Action for Kindred Shareholders

The forthcoming Extraordinary General Meeting (EGM) represents a critical juncture for Kindred Group, with proposed statutory amendments necessary for facilitating the acquisition. This meeting, aimed at achieving the requisite shareholder consensus, signals the importance of shareholder engagement in steering corporate direction and strategy.

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The Path to Acquisition: Shareholder Conviction and Strategic Vision

FDJ’s pursuit of Kindred Group, contingent upon securing 90% of total capital, reflects a strategic maneuver to consolidate its position in the global gaming market. The offer per share, valuing Kindred at approximately €2.6 billion, has garnered unanimous board endorsement and significant shareholder backing, illustrating the alignment of strategic interests and the perceived value of this consolidation.

Activist Influence and Strategic Realignment

The role of activist shareholders, notably Corvex Management, in advocating for Kindred’s sale underscores the dynamic interplay between corporate governance and shareholder activism. Their successful campaign for board representation and strategic evaluation reflects a broader trend of active investor engagement in shaping corporate trajectories.

Implications for the Global Gaming Industry

This acquisition not only exemplifies the financial and strategic considerations underpinning such deals but also highlights the regulatory complexities and shareholder dynamics involved. As the gaming industry continues to evolve, driven by technological advancements and regulatory changes, the FDJ-Kindred merger serves as a case study in strategic growth, market consolidation, and the pursuit of competitive advantage.

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