The UK Tote Group has confirmed James Coxon, currently chief operating officer at GiG, as its incoming chief executive officer.
The announcement came after NEXT.io contacted the Tote for comment on reports that Coxon would be stepping into the top role.
Coxon is a long-term industry veteran whose appointment marks a significant moment of transition for one of British racing’s most storied betting institutions.
Current CEO Alex Frost will be stepping down after nine years leading the organisation, with Coxon set to enter the role before the end of the year.
Frost commented on his departure, saying: “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.”
The leadership transition arrives against a backdrop of financial pressure, with the Tote recording post-tax losses of £7.5m in its 2025 full-year accounts despite top-line revenue growth.
Alongside the CEO announcement, the Tote revealed the findings of a strategic review that will reshape how the business operates going forward.
The company has confirmed it will shift toward a B2B model, doubling down on its World Pool product while scaling back investment in its direct-to-consumer digital operation.
The restructuring is expected to result in a number of job losses within the digital division, though the Tote says some of those roles will be offset by new positions created within the growing B2B arm.
This move signals a clear change in direction for the Tote, which has historically been closely associated with on-course and retail betting across British horse racing.
The World Pool product, which connects tote pools globally to create larger prize funds for bettors, appears central to the Tote’s vision for growth under Coxon’s leadership.
James Coxon’s background at GiG, a well-established B2B technology and media supplier to the gambling industry, positions him as a natural fit for the strategic direction now being pursued.
The Tote’s repositioning reflects a broader trend across the gambling industry, where operators are increasingly looking to licensing, technology partnerships, and wholesale models to drive sustainable returns.
