Five consequences of a deal: Bodog buying the Tote

THE POSSIBILITY THAT Bodog’s European licensee, Bodog Europe, might acquire the UK Tote may not be as far-fetched as at first thought.

A Tote sale has been talked about and commented on more often than the latest fashion worn by Kate Moss. And the prospect of Bodog acquiring it for much less than the £400m the government was looking to get for it not long ago raises some intriguing questions.

1) With the asking price for the Tote dropping from £400m to £325m in the past two years, the figure being accepted by the UK government could now be as low as £200m and still dropping. Understandable then that Bodog, and surely others, would be running the rule over it.

2) The Tote would give Bodog the opportunity to make a move in the UK horse racing space and benefit from guaranteed margins as a way of addressing the low fixed odds margins in Europe.

3) Alternatively, a partnership where Bodog would act as an online retailer for the Tote is another option.

4) Bodog Europe chief executive Keith McDonnell would not confirm or deny if his company was interested in the Tote when the rumour emerged this month, thus leaving his options open for a possible move later on.

5) Should Bodog acquire the its fair to say ‘traditional’ Tote, we can’t wait to see the faces of the Tote’s management when Bodog founder Calvin Ayre rocks up at its headquarters in sunny Liverpool. Particularly if he’s picked up a London accent“¦

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