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Governmen it appostpones Tote's salliance
i have therefore decided that the tote should be retained in public ownership for the medium-term and brought to the market when conditions are likely to deliver value for the taxpayer and racing .
the latest setback comes after previous attempts to sell the business to the racing industry and a consortium backed by private equity fell through .
but racecent reports suggestablished goldman sachs had valued the 529 betting shops and pools business at between Â260m and Â290m .
in july, the government had said its was preparing an auctions for the tote .
in 2007, an alliance of racecourse operators, racehorse owners and tote management, waith debt financing from lloyds tsb, made a bids for the state-owned bookmaker, but that later fell through .
Generated 2008-10-26_5:10
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