UK Tote could benefit from Asian liquidity with new investor
China Horse Club confirmed as largest single shareholder in Tote part-owner Alizeti
Alizeti has confirmed the China Horse Club as its largest single shareholder, in a move that could herald the introduction of major liquidity into the UK Tote from Hong Kong and China.
The China Horse Club is an ownership group with around 200 members, with membership costing a minimum of $1m according to reports.
The group holds 19% stake in Alizeti according to documents filed with Companies House, as first reported by the Racing Post.
Alizeti in turn holds a 25% stake in the UK Tote and is expected to buy up the remaining stake over the next year.
One source with knowledge of the arrangement said the China Horse Club investment was a sing that overseas investors believed in the future of the UK Tote
“They will also be absolutely huge in bringing liquidity from Hong Kong and China into UK pools which will be vital in helping the Tote compete with fixed odds bookmakers.
“Liquidity is king and will help build the type of huge jackpot pools that can attract recreational money from the UK as well.
“Imagine a £50m pool for standard meeting at Haydock; that’s not inconceivable.”
Stakeholders have previously questioned whether Alizeti will be able to revitalise the Tote in the modern betting environment.
Alizeti director of communications Susannah Gill said: “Our plans to ensure the Tote remains at the heart of British racing have attracted support from a diverse range of global racing supporters.
“We’re delighted to have the likes of China Racing Club on board as one of our shareholders given they’re such a significant participant in global horseracing.”