Alex Frost to leave UK Tote chief executive role

UK Tote Group chief executive Alex Frost will step down at the end of 2026 following nearly nine years at the helm, with James Coxon appointed as his successor.

The group said the planned transition will see Frost remain an executive director during 2027 before moving to a non-executive board role.

Coxon has more than 20 years’ betting and gaming experience, including senior roles at DraftKings following its acquisition of SBTech and, more recently, a role as chief operating officer at Gaming Innovation Group.

Frost oversaw the Tote’s rebuilding as an independent operator following its acquisition from Betfred and helped establish World Pool alongside the Hong Kong Jockey Club.

The leadership change accompanies a strategic review that will shift investment towards UK and international horseracing parimutuel betting, particularly World Pool, and away from its online business serving customers directly.

“We have been growing our digital business quickly over recent years but it operates at a loss,” Frost said.

The Tote will eliminate some posts in its digital operation, while creating new roles in its business-to-business unit to partly counter the cuts.

Online gaming content will be withdrawn, while Tote.co.uk and Tote.ie will continue offering pool bets and fixed-odds sports betting to UK and Irish customers.

The sites will also trial new pool betting initiatives and promotions which can then be made available to racecourses, bookmakers and international commingling partners.

The group said pool betting revenues at World Pool rose by approximately 40 per cent this year and forecast that growth would remain in double digits in 2027 as its calendar grows.