S172 (1) of the Companies Act 2006.

Last updated: 08/02/2023

Directors' statement of compliance with duty to promote the success of the Group

The Directors of the UK Tote Group, as those of all UK companies, must act in accordance with a set of general duties, with these duties set out in S172 (1) of the Companies Act 2006.

These duties ensure Directors must promote the success of the Group for the benefit of its members as a whole, having regard to:

  • Likely consequence of any decision in the long term;

  • Interests of employees;

  • Foster business relationships with suppliers, customers and others;

  • Impact of operations on the community and the environment;

  • Maintain a reputation for high standards of business conduct; and

  • Act fairly as between members of the Company. 

In order to fulfil the above commitments, Directors operate within a clear governance framework with a clear, rational decision‑making process.

Risk Management
The UK Tote Group board is ultimately responsible for managing the Group’s risk, but risk‑based decision‑making is supported by the Tote’s Risk and Audit Committee (TRAC) which is made up of members of the board and leadership team and chaired by a non‑executive director.

In addition, the Group has a Remuneration and Nomination Committee, comprising non‑executive directors and chaired by the Chairman of the board to review, monitor and communicate the overall remuneration strategy of the Group ensuring that this aligned to the Group’s purpose and values and which supports the long term success of the Group as well as actively seeking to retain and reward committed colleagues. This committee also ensures plans are in place for the orderly succession of board and executive management positions.

Day to day management of the Group is delegated to an Executive Committee comprising senior executive personnel which meets at least weekly.

Communication with Investors and Colleagues

The UK Tote Group has 190 investors, the vast majority of whom are racehorse owners and breeders with deep links with the horseracing industry which complements the Tote’s own symbiotic relationship with the sport.

Investors are kept fully involved in the Tote’s progress with regular updates from the Chief Executive Officer, along with Bi‑Annual investor presentations which are reviewed and approved by the board. Following all investor updates, information is shared with colleagues via a Town Hall update, delivered by the leadership team.

The UK Tote Group enjoys a high level of engagement across the business including weekly all company business updates. Colleagues feel proud to work for the Company and have a clear understanding of the purpose and values of the Group communicated via a performance development program and fortnightly focus sessions. The Group has a Whistle Blowing policy and dedicated phone line for colleagues to raise concerns in a confidential manner.   

Looking after customers 

Returning to the Group’s founding principles, it is crucial that the UK Tote Group continues to be a safe place for all customers to bet. This is integral to the Tote’s brand and values.

The social and regulatory environment is always evolving, and it is of the utmost importance that the UK Tote Group is able to effectively identify, interact with and, ultimately, protect customers. The Company continues to grow its compliance team and is continuously developing monitoring systems so as to identify vulnerable customers – including continuing to evolve processes around customer affordability – so that early and appropriate action can be taken when needed. 

Engagement with Stakeholders

Beyond colleagues and investors, the UK Tote Group engages with a wide range of stakeholders to ensure the Group can fulfil its regulatory and commercial requirements, which are integral to its long‑term success. Key stakeholders include:

  • The horseracing industry: As well as paying the Horserace Betting Levy, the UK Tote Group has an agreement in place with British racecourses that will see the Company contribute a minimum of £50 million to the sport over seven years. The Group supports the Racehorse Owners Association Sponsorship scheme, bringing significant benefits to its more than 1,800 members. This is in addition to race sponsorship and supporting some of British racing’s leading equine charities and good causes.

  • The British Government and policy makers: The Group continues to operate in an increasingly robust regulatory and political environment. The UK Tote Group works with numerous MPs, advisers, and policymakers in order to collaborate around gambling policy.

  • The Gambling Commission: As with all policymakers the UK Tote Group seeks to have a constructive and positive relationship with the UK regulator via regular formal and informal engagement.

  • Partners across the betting sector: The UK Tote Group is a founding member of the World Tote Association, well as working with numerous betting operators in the UK and has a dedicated team to manage these relationships.

  • Suppliers: We value all our suppliers and through our supplier onboarding process ensure the supplier base is aligned to the Group values.

Operating as a responsible company

The UK Tote Group seeks to operate as a responsible company in all aspects of the business:

  • Equality, Diversity & Inclusion (ED&I) Policy: The UK Tote Group seeks to create an inclusive environment in which all colleagues feel represented and supported, as well as to be a Group in which people from all backgrounds can be their authentic selves and feel included in the Group’s journey. The policy focuses on five key areas: leadership, governance, awareness and educations, supporting colleagues and promoting equality, and engaging with customers and external stakeholders.
    In 2021 the UK Tote Group joined the All‑In Diversity Index so that the Group can benchmark progress against peers in this field.
    The Chairman of the board is a designated D&I champion and provides the board with updates on equality, diversity and inclusion initiatives on a quarterly basis.

  • Engagement with the local community: During what remains a challenging time for so many people, the UK Tote Group wants to ensure it continues to play its part within the community. The Group is proud to have its headquarters in Wigan, with so many colleagues based in or around the town. The Group tries to give back to the community where possible: for example when the Christmas party was postponed the food was donated to a local charity.

  • Supporting colleagues to give back: Every member of the UK Tote team has an extra day of leave each year to volunteer for a charity, or cause, of their choice. The Group works with Business Volunteers to organise team volunteering days. In addition, members of the team have organised their own volunteering days at local charities, as well as fundraising events within the office, including a Macmillan Coffee morning with a charity raffle.