UK Tote Group names James Coxon CEO and refocuses on World Pool horse racing betting

The UK Tote Group has announced a new chief executive and a strategic shift towards horse racing pool betting, with the aim of speeding up growth in its World Pool operations.

James Coxon will take over from Alex Frost at the end of this year. Coxon has more than two decades of experience in betting and gaming. His earlier roles include senior positions at DraftKings following its acquisition of SBTech and, most recently, chief operating officer at Gaming Innovation Group. Frost, who has led the Tote for nearly nine years, will stay on as an executive director until 2027 and then move to a non-executive board role. Chairman John Williamson said Coxon was exceptionally well placed to lead the company through its next phase of development.

The leadership change comes alongside a wider strategic review. The Tote will prioritise UK and international pool commingling, mainly through the World Pool, a global system that combines horse racing wagers into a single pool. As part of this, the company is deliberately scaling back investment in its direct online consumer business outside core pool betting.

The Tote will stop offering gaming content online. Its Tote.co.uk and Tote.ie sites will remain only for UK and Irish customers to place pool bets alongside a limited range of fixed-odds sports bets. They will also act as test beds for new pool products and promotions intended for wider rollout through racecourses, bookmakers and international partners.

The refocus will lead to job reductions in the digital division. The Tote plans to create new roles in its B2B operations, which should offset some of the redundancies.

Frost said the company's future lies in developing horse racing betting pools in the UK and abroad, and that investing in support for distribution partners such as racecourses, bookmakers and international commingling partners could accelerate growth. The Tote said World Pool revenue is estimated to grow 40% this year and is projected to keep growing at double-digit rates through 2027 as the number of World Pool race days increases.

Frost also pointed to growing regulatory burdens on digital operators and a sharp rise in taxation as factors behind the decision to limit losses in the consumer digital business and redirect resources to international pool betting. Earlier this year, former Rank Group chief executive John O'Reilly joined the board as a non-executive director.