UK Tote Group to prioritise World Pool offering amid CEO transition

On Tuesday, the UK Tote Group, announced the appointment of a new chief executive as well as a shift in focus on horse racing pool betting as it aims to accelerate growth in its World Pool operations.

James Coxon, who brings more than two decades of experience in the betting and gaming sector, will succeed current chief executive Alex Frost at the end of this year.

His previous roles have included senior positions at DraftKings, following the SBTech acquisition and, most recently, as chief operating officer at Gaming Innovation Group, 

‘Extraordinarily challenging backdrop for British racing’

Frost, who has led the Tote for nearly nine years, will remain with the company as an executive director until 2027 before transitioning to a non-executive director role on the board. 

“It has been a great honour to lead the Tote through what has at times been an extraordinarily challenging backdrop for British racing and the wider betting industry,” he said. “I am immensely proud of the foundations we have established which will underpin its future for many years to come.”

John Williamson, chairman of the Tote’s board, expressed gratitude for Frost’s significant contributions and welcomed Coxon, describing him as “exceptionally well placed to lead the Tote through its next phase of development”.

Scaling back online gaming investment

The leadership change is part of a wider strategic review. The Tote also announced that it will prioritise both UK and international pool commingling, primarily focusing on the World Pool, a global horse racing betting system of combined wagers in one pool.

The move marked a deliberate scaling back of investments in its direct online consumer business, outside core pool betting activities.

As part of the new strategy, the Tote will cease offering gaming content online, retaining its Tote.co.uk and Tote.ie platforms solely for UK and Irish customers to place pool bets alongside a limited range of fixed-odds sports bets. 

These platforms will also serve as trial grounds for new pool initiatives and promotions intended for broader rollout through racecourses, bookmakers and international partners.

The refocus will result in job reductions within the digital division. However, the Tote plans to create new positions within its B2B operations, to mitigate some redundancies.

A shift in investment

On the shift, Frist said: “The Tote’s future is in developing horse racing betting pools both in the UK and internationally. We believe there is considerably more that we can do to accelerate this growth by investing to support our pool distribution partners including the racecourses, bookmakers and our international commingling partners.”

The Tote highlighted rapid revenue growth from its World Pool, estimated to increase 40% this year, and projected to continue its double-digit growth through to 2027 as the number of World Pool race days increases. 

Frost cited increasing regulatory burdens on digital operators and a sharp rise in taxation as factors influencing the decision to stem losses in the consumer digital business by reallocating resources towards international pool betting.

Earlier this year, John O’Reilly, was appointed as a non-executive director. O’Reilly brought more than 30 years of senior industry experience to the role. He stepped down as the CEO of Rank Group PLC, after seven and a half years at the helm of the casino and bingo giant.