With the future Tote
's monopoly of pool betting on British horseracing likely to be limited to seven years, does it make financial sense for racing to bid for the Tote
if - even with a now much-reduced valuation - much of the purchase price would be funded by debt, the interest payments on which could significantly reduce the Tote
's contribution to racing?
A sale outside racing implies a break-up of the Tote
, which should be avoided.
Asked if last week's rebuff was a fait accompli, Dixon said: "As far as the new Tote
chairman is concerned it is, but we don't want to alienate the Tote
but work closely with them.
For the racing community, the Tote
provides pooled jackpots shared equally among winners with a small levy charged on bets that goes almost wholly to support horseracing - so punters and horseracing both win.
He added: "My opinion as a stockbroker of 40 years' standing is that the BBC's decision has substantially reduced the valuation of the Tote
- by between ten and 20 per cent.
In Australia, tote
returns have more relevance than the SP, and this is despite three different totes
taking each other on.
Racing has always enjoyed the full economic benefits of ownership of the Tote
, and the organisation has never received any support from the taxpayer.
For most of its life, the Tote
has been as hostile to suggestions that its shops should be sold off as bookmakers have been enthusiastic.
To compare a Tote
return to a bookmaker's SP in this context is misleading.
has the newest vessels serving the 0ff-shore domestic trades.
Think of as many uses as you can for the insulated tote
inventory you stock and write them on a dry erase board at the center of your display.
3) Place the outside fabric pieces with right sides together, and stitch 1/2 inch side and bottom seams to form the tote