Two UK based sportsbooks have informed the British Government that they will take legal action to prevent the government from selling the government owned bookmaker Tote for less then market value.
Ian Spearing of William Hill told the telegraph.
"If the Tote is sold for what we consider to be a subsidised price, we would challenge the deal as illegal state aid. It must be sold at full market value, which we consider to be £400m, or else others should have the chance to bid for the assets."
Ladbrokes spokesperson had this to say:
"Taking a legal challenge to Brussels is something we would consider if a sale at a knockdown price was confirmed."
The racing consortium looking to purchase the sportsbook includes the Racecourse Association, Racehorse Owners Association and members of Tote management.
