Tote boss takes reins at Betfred after auction
TREVOR Beaumont, head of the Tote betting pool, became chief executive of Betfred yesterday in a move that will smooth the integration of the two companies and aid Betfred’s relations with the racing industry.
Beaumont has been appointed to the newly-created role after Betfred scooped the government’s auction of the Tote last month in a £265m deal.
Betfred, led by executive chairman Fred Done, beat off competition from rival bidder Sports Investment Partners to secure the seven-year Tote licence.
Beaumont, who has led the Tote since 2004, will now run the enlarged group, which adds the Tote’s 517 shops to Betfred’s 840.
His appointment was not specified in Betfred’s Tote bid but as Done is now 60 it may allow him to step back from day-to-day control.
Beaumont has, crucially, helped run both private sector betting companies and the British Horseracing Board in the past. The racing industry refused to back Betfred’s bid for the Tote and both parties now need to build bridges as they learn to work closely together.
Before running the Tote, Beaumont was managing director of Coral Eurobet and racing director of the British Horseracing Board.