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• New Tote Chair appointed

New Tote Chair appointed

Mr Smith, 61, has held a number of senior management posts in the betting industry over the last 20 years. A former Rank and Ladbrokes Chief Executive and MD of William Hill, he is currently Chairman of Big Apple Entertainment, a group of family entertainment centres.

He also has significant experience of mergers and acquisitions in a number of industries. Specifically, he led on the purchase of William Hill by Mecca, the purchase and sale of Coral by Ladbrokes, and the purchase of Blue Square by Rank.

Mike Smith will take up the post on 1 July 2008 for a three year term, or until the Tote is sold. He replaces interim Chair, Sir Ian Good CBE.

Gerry Sutcliffe said:

“I’m very pleased Mike Smith has agreed to take on the role of Tote Chair. He has significant industry expertise that will prove invaluable during this important period for the Tote, as will his extensive track record in leading gaming businesses through mergers and acquisitions. I am confident he will provide the kind of leadership needed to help grow the Tote’s business at the same time as seeing it through any sale process.

“I’d also like to place on record my thanks to Sir Ian Good. He has managed the business successfully while the search for Peter Jones’s successor has been taking place.“

Mike Smith said:

“I am delighted to join the Tote and to work with its established team, some of whom I already know. I will prioritise getting to know all the staff at Tote HQ in Wigan in the coming weeks. We all recognise the need to bring certainty to the Tote’s future as quickly as possible.”

In March 2008 the Government announced its intention to prepare the state-owned Tote for an open market sale, thus ending its exclusive negotiations with racing. 

Goldman Sachs recently submitted an initial report to the Department, detailing the options for the sale of the Tote. Ministers are now considering those options and will take a decision on the next steps in due course.

The sale of the Tote is part of the Government’s wider policy of ending its direct involvement in the administration and financing of horseracing.

Notes to Editors

1. The Horserace Totalisator Board (Tote) is a non-departmental public body founded to enable racegoers to bet by means of a totalisator (pool betting) and to raise money for horseracing. It is a statutory authority, which was first established, as the Racecourse Betting Control Board, by the Racecourse Betting Act 1928 and given its present official name in 1961, but has always been known as the Tote. A corporate body, it runs in accordance with the provisions of the Betting, Gaming and Lotteries Act 1963 (as amended).
2. More information on the Tote sale is available on the DCMS website.
3. Mike Smith is Chairman of Big Apple Entertainment Ltd. He was CEO of Rank Group from 1999-2006, CEO of Ladbrokes from 1994-1999, and MD of William Hill from 1988-89 as one of a succession of roles with the Grand Metropolitan conglomerate (1985-1992) which also included MD of GrandMet Retailing.  He led on the purchase of William Hill by Mecca and the subsequent sale of the combined entity, the purchase and sale of Coral by Ladbrokes, and the purchase of Blue Square by Rank.
4. This appointment has been made in accordance with the Code of Practice set out by the Office of the Commissioner for Public appointments (OCPA). Appointments are made on merit and political activity plays no part in the selection process. However, in accordance with the original Nolan recommendations, there is a requirement for political activity (if any has been declared) to be made public. Mike Smith has declared no political activity.

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