Alex Frost calls time as UK Tote Group CEO with ex-GiG COO to step in

Alex Frost is stepping down as the Chief Executive Officer of the UK Tote Group, ending a near-decade-long stint in the leadership role at the pool betting operator. Frost played a critical role in the creation of the UK Tote Group, which was set up in 2019 with the backing of the Alizeti racehorse owners’ consortium as a vehicle to purchase the Tote from Betfred. The Tote itself has been in operation since 1928. Since its purchase by the UK Tote Group in 2019, and under Frost’s tenure as CEO, the organisation has become much more international in nature as part of the World Pool network. Frost will step down at the end of 2026, though he will continue to work with the Tote as a Non-Executive Director in 2027 before transitioning to a Non-Executive Director from 2028 onwards. His replacement has already been announced, as James Coxon is due to step into the role. “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,” said Frost. “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.” Ex-DraftKings SVP to take the helm Frost’s tenure as CEO saw the Tote gain access to international racing via its partnership in the Hong Kong Jockey Club (HKJC) led World Pool, but also saw it navigate a number of regulatory and political challenges. These included the review of the 2005 Gambling Act and the conversations around affordability that arose from this, which sparked widespread concerns about the financial impact on horse racing. This was followed by the debates around taxation last year, though ultimately Pool Betting Duty was left out of the November budget which saw plans put in place to increase Remote Gaming Duty (RGD) and General Betting Duty (GBD) – albeit with horse racing excluded after an extensive campaign by the British Horseracing Authority (BHA). As mentioned above, his replacement as CEO has already been confirmed, with Coxon, the former Vice President of International at US giant DraftKings, due to step in. Coxon has previously held other senior leadership roles at Gaming Innovation Group (GiG) as Chief Operating Officer and Scientific Games as Commercial Director and Director of Business Development. John Williamson, Tote Group Chair, remarked that Frost has “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”. “I would also like to extend our congratulations to James on his appointment and to welcome him to the Tote as our incoming Chief Executive Officer,” he continued. “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.” New leadership and new strategy for the Tote One of Forst’s final projects as CEO is initiating a new strategy for the group. The company is planning to scale back its investment in direct-to-consumer digital business in order to renew its focus on UK and international pool betting, with a particular focus on the World Pool. It has been confirmed that this will lead to job losses in its digital division, although the firm states that some new job roles will be created in its business division. “The increasing regulatory burdens on digital operators and the sharp increase in tax have been contributory factors in this renewed focus for the Tote,” Frost explained. “We have been growing our digital business quickly over recent years but it operates at a loss and, with the increase in tax rates, we have decided to stem those losses and refocus the Group on the very considerable opportunity that lies in international horserace pool commingling, including World Pool.”