UK Tote Group chief government Alex Frost will step down on the finish of 2026 after practically 9 years within the position, with James Coxon appointed as his successor.
Frost will stay with the enterprise through the transition, serving as an government director in 2027 earlier than transferring right into a non-executive board position.
“It has been a great honour to lead the Tote through what has at times been an extraordinarily challenging backdrop for British racing and the wider betting industry,” mentioned Frost.
“I’m immensely happy with the foundations we’ve established which is able to underpin its future for a few years to come. The Tote is a particular enterprise and one I care deeply about.
“I am delighted to be staying closely involved and I look forward to playing my part in completing the journey we started nearly a decade ago to restore the Tote to its rightful position at the heart of British racing.”
Coxon Appointed as Next Chief Executive
Coxon brings greater than 20 years of betting and gaming expertise to the position.
He beforehand held senior positions at DraftKings following its acquisition of SBTech and later served as Chief Operating Officer at Gaming Innovation Group. His earlier profession additionally included business and enterprise improvement roles at Scientific Games.
Tote Group Chair John Williamson mentioned Frost had “provided strong leadership over the past nine years, overseeing a period of significant transformation for the Tote and helping to build a strong platform for future growth”.
Williamson additionally commented on Coxon’s appointment.
“I would also like to extend our congratulations to James on his appointment and to welcome him to the Tote as our incoming Chief Executive Officer,” he continued.
“His extensive industry experience, proven leadership credentials and strong track record of delivering growth make him exceptionally well placed to lead the Tote through its next phase of development, strengthening our partnerships, and delivering for customers and stakeholders both in the UK and internationally.”
Frost helped set up the UK Tote Group following the Alizeti consortium’s acquisition of the Tote from Betfred in 2019. During his tenure, the enterprise developed its worldwide pool betting operations, together with World Pool in partnership with the Hong Kong Jockey Club.
Tote Reduces Investment in Digital Business
The management change comes alongside a strategic overview that can shift sources away from the group’s direct-to-consumer digital enterprise and towards pool betting within the UK and worldwide markets.
“We have been growing our digital business quickly over recent years but it operates at a loss,” Frost mentioned, according to The Straight.
He additionally pointed to increased regulatory and tax prices as components behind the change.
“The increasing regulatory burdens on digital operators and the sharp increase in tax have been contributory factors in this renewed focus for the Tote,” Frost defined.
“We have been growing our digital business quickly over recent years but it operates at a loss and, with the increase in tax rates, we have decided to stem those losses and refocus the Group on the very considerable opportunity that lies in international horserace pool commingling, including World Pool.”
The restructuring will take away some roles within the digital operation, whereas the business-to-business division will add new positions.
The Tote can even withdraw on-line gaming content material. Tote.co.uk and Tote.ie will proceed to supply pool betting and fixed-odds sports activities betting to clients within the UK and Ireland.
World Pool Becomes Central to Growth Plans
World Pool is anticipated to take a bigger position within the Tote’s technique beneath Coxon.
The group mentioned World Pool revenues elevated by about 40% this 12 months and forecast continued double-digit progress in 2027 as the calendar expands.
“The Tote’s future is in creating horserace betting swimming pools each within the UK and internationally. Working with our key companions, the Hong Kong Jockey Club, the BHA, Horseracing Ireland and different key worldwide jurisdictions, the World Pool is experiencing speedy progress.
“We believe there is considerably more that we can do to accelerate this growth by investing to support our pool distribution partners including the racecourses, bookmakers and our international comingling partners. To prioritise this, we have decided to reduce the investment we have been making to grow our direct-to-consumer digital business in the UK.”
The new technique follows a interval of income progress accompanied by a £7.5 million post-tax loss within the Tote’s 2025 full-year accounts.
