June, 2011
GLP advises Betfred on its successful acquisition of Tote

LONDON (3 June 2011): Global Leisure Partners LLP (“GLP”) is pleased to announce that it acted as financial advisor to Betfred on the acquisition of The Horserace Totalisator Board (the “Tote”) from HM Government for £265 million.

The Tote is the exclusive operator of horserace pool betting in Britain, with a presence on all 60 British racecourses.  As one of Britain’s biggest bookmakers, the Tote also contains a portfolio of 517 shops as well as an online business.  Together with the existing Betfred business, the enlarged Betfred Group will be the country’s biggest sponsor of Racing and have an estate in excess of 1,350 shops. 

Barry Nightingale, Betfred CFO, commented:

"We are very pleased to have been selected by Government to be the new, long-term owners of the Tote.  GLP was instrumental in helping Betfred to achieve this result."

Fred Done, Betfred Executive Chairman, commented:

"GLP have been fantastic partners though the whole transaction and were critical in getting Betfred across the line.  Buying the Tote has been an ambition for years, so I am absolutely delighted."

Mervyn Metcalf, Managing Director of GLP, commented:

"We are pleased to have advised Betfred throughout this process.  We believe this transaction benefits all parties involved.  For GLP, this very competitive buy-side assignment represents not only a landmark gaming transaction but also our second gaming deal of 2011 and our sixth successfully completed advisory deal this year."

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