UK Tote Group names new non-executive directors

The pool betting operator has added two new members to the board.

UK.- The racing pool betting operator UK Tote Group has appointed two new non-executive directors to its board. The new appointments are Lord Michael Spencer of Alresford and Mark Holt.

The UK Tote Group said the appointments would contribute “valuable experience and significant expertise from the business world”. The company wants to improve product innovation and customer experience to achieve more growth.

Lord Spencer is an investor in the company. He founded interdealer broker ICAP and NEX, which was acquired by US-based CME Group in 2018. Since then Spencer has been investing through his firm IPGL.

Holt comes from a tech background. He is currently chief product and engineering officer at 10X Banking Technologies Services. Before there he worked as chief technology officer at CPA Global and Trainline.

Tote Group chairman John Williamson said: “During an exciting time of growth for the Tote we are delighted to appoint Lord Spencer and Mark to the UK Tote Group board.

“Michael has been an investor in the Tote from the outset, and continuing to share his unrivalled experience across the business world as a board member will be an incredibly valuable support to our team.

“Mark’s technological expertise will be of significant benefit as we continue to develop and improve the Tote’s pool betting engine.”

The UK Tote was one of several operators to donate profits from this year’s Britannia Stakes at Royal Ascot.

ABF – The Soldiers’ Charity, Sue Ryder, Ascot Racecourse Supports Community Fund, The Ivors Academy Trust and Cotswold Riding for the Disabled received a share of £1.2m after 14/1 shot Thesis ridden by Ryan Moore won this year’s race.