James Coxon to take the helm as UK Tote CEO as Alex Frost steps down
Alex Frost will leave UK Tote Group after almost 10 years with the pool betting operator.
Key takeaways:
- Alex Frost will step down as CEO of UK Tote Group at the end of 2026 after nearly a decade in the role, with James Coxon set to become CEO from the beginning of 2027.
- During Frost’s tenure, the Tote expanded internationally through initiatives such as the World Pool network and its partnership with Tote Ireland, while navigating major regulatory challenges affecting betting and British racing.
- The company is shifting strategy by reducing investment in its loss-making direct-to-consumer digital business and focusing on UK and international pool betting opportunities, particularly those linked to the World Pool, a move expected to result in some job cuts.
UK.- Alex Frost is set to step down after almost a decade as CEO of the heritage pool betting operator UK Tote Group. James Coxon, most recently Vice President International at DraftKings, will take the helm from the start of 2027.
The UK’s tote pool betting has been in operation since 1928. Frost was involved in the creation of its latest incarnation as UK Tote Group in 2019. The Alizeti racehorse owners’ consortium provided backing to acquire the historic pool betting business from Betfred.
Since then, the business has expanded its footprint internationally through its involvement in the Hong Kong Jockey Club-led World Pool initiative and its strategic alliance with Tote Ireland. It’s also navigated a series of regulatory and political challenges facing both betting and British racing, including the review of the Gambling Act 2005 and now the implementation of financial risk assessments, which have generated concern about the potential impact on the racing sector.
After lobbying from the British Horseracing Authority, Pool Betting Duty ultimately remained unchanged amid the changes to Remote Gaming Duty and General Betting Duty announced in last year’s Autumn Budget.
While Frost will step down at the end of the year, he will remain involved with the company, serving in an executive capacity during 2027 before moving into a non-executive director position from 2028.
Reflecting on his tenure, Frost said: “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. I am immensely proud of the foundations we have established which will underpin its future for many years to come. The Tote is a special business 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.”
Tote Group Chair John Williamson said 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”.
Before his tenure at DraftKings, Coxon served in positions including Chief Operating Officer at Gaming Innovation Group and Commercial Director and Director of Business Development roles at Scientific Games.
“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,” Williamson said.
The leadership transition comes as the Tote prepares to implement a revised strategic direction. One of Frost’s final initiatives as CEO is a plan to reduce investment in the company’s direct-to-consumer digital operations and concentrate resources on UK and international pool betting opportunities, particularly those connected to the World Pool network.
The strategy is expected to result in job losses within the digital division, although the company has indicated that some new positions will be created elsewhere in the business. Frost said that despite the rapid growth of the digital business over recent years, it operates at a loss, leading the group to decide to stem losses and refocus on the opportunity in international horserace pool commingling.
The UK Tote Group named former Rank Group CEO John O’Reilly as a non-executive director in April.
FAQs
Who will replace Alex Frost as CEO of UK Tote Group?
James Coxon, formerly Vice President International at DraftKings and previously an executive at Gaming Innovation Group and Scientific Games, will take over as CEO from the start of 2027.
Why is UK Tote Group changing its business strategy?
The company says its digital direct-to-consumer operation has been operating at a loss despite recent growth. It plans to focus resources on more profitable opportunities in UK and international pool betting, especially through the World Pool network.
What role will Alex Frost have after stepping down as UK Tote Group CEO?
Frost will remain involved with UK Tote Group during 2027 in an executive capacity before moving to a non-executive director position from 2028.
