Tote, britbet Enter Standstill Period

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The Tote and britbet have agreed on a standstill period in discussions on whether British racing will be best served by those two parties forming a pool betting alliance. The standstill, which expires Oct. 31, will allow for good faith discussions, analysis of business plans and due diligence. Jockey Club Racecourses and Arena Racing Company, which operate 31 tracks between them, are partners in britbet, and Simon Bazalgette, Group Chief Executive of The Jockey Club, said, “The Standstill period allows the necessary time for all parties to undertake due diligence, have first sight of business plans for an invigorated Tote and consider how we could forge an alliance to keep the pools together for the long-term interests of the sport. This approach is only now possible since Alizeti signed its deal with Betfred.”

“In my experience our sport is better off when its stakeholders work together towards a shared goal. The Jockey Club always looks to collaborate with others and I am pleased that through this process we have agreed with Martin Cruddace and his team at ARC that we should explore future opportunities to work together, in addition to other racecourses and the sport’s participants.”

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