The Tote has appointed Gaming Innovation Group chief operating officer James Coxon as its new chief executive, while preparing to shift towards a business-to-business strategy.
Coxon is expected to take over at the end of the year. Current chief executive Alex Frost will step down after nine years leading the organisation. However, he will remain involved as an executive director during 2027 before moving into a non-executive director role.
Leadership Change Follows Strategic Company Review
During Frost’s tenure, he helped rebuild the Tote as an independent operator following its acquisition from Betfred. One of the business’s most significant developments was the creation of World Pools in partnership with the Hong Kong Jockey Club.
“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,” Frost said.
“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,” he explained further.
The leadership transition comes after a period of revenue growth but significant post-tax losses, which reached £7.5m in the Tote’s 2025 full-year accounts.
Tote Reduces Direct-To-Consumer Investment To Focus On World Pool
The Tote’s strategic review will prioritise World Pool and reduce investment in its direct-to-consumer digital business.
This restructuring will lead to job losses in the digital division, although some new roles will be created in the B2B operation. The company will also withdraw gaming content online but retain Tote.co.uk and Tote.ie for UK and Irish customers to place pool bets and other wagers.
Frost said: “The Tote’s future is in developing horserace betting pools both in the UK and internationally.”
“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,” he added.
Coxon’s appointment aligns the Tote’s leadership with a strategy focused on technology, partnerships and B2B distribution. Its shift away from direct-to-consumer gaming reflects the pressure facing the digital business, while World Pool offers a more scalable route through racecourses, bookmakers and international partners.
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