Tote set to bid for Stanley Leisure shops

BETTING operator the Tote was said to be working on a deal aimed at scuppering William Hill’s chances of buying 600 betting shops from Stanley Leisure.

The British government-owned group is understood to have hired investment bank Lazard to help it draw up an offer.

William Hill said last Monday that it was considering a bid worth more than £500 million for the estate of Liverpool-based Stanley.

It is thought the Tote hopes to link up with a private equity group and create a vehicle especially for a bid.