Gala gambles on Tote offer
GALA Coral, Europe's biggest gambling firm, has confirmed an offer to pay the Government £325 million for the 540-strong betting shop arm of state-owned bookmaker the Tote.
Gala's offer compared favourably to a 320m bid for the bookmaker from a consortium of UK horse racing industry players, led by the Racecourse Holdings Trust, which was rejected by the Government in September.
A Gala spokesman said the firm was willing to spend another 80m for the entire Tote operation.
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Saturday 18 February 2012
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