280 TOTTO betting outlets to open by end-2004

Horse racing company Służewiec-Tory Wyścigów Konnych (STWK) plans to create a network of 280 betting franchises under the brand-name TOTTO by the end of 2004, at a cost of euro 8 million. The first 80 such outlets are to open in bars and pubs from April 26, the beginning of the racing season. "Last year horse-racing produced euro 10 million in revenues and we will break even if we manage to double this figure," said STWK deputy president Bogdan Keba. The newly-created satellite television channel, Hipika TV, which should receive its broadcasting license today, will transmit the horse races. From this season STWK will be responsible for the first time for organizing races, taking bets and managing its own assets. Previously, this was done by the National Lottery (TS), which yielded negative results for STWK. (Puls Biznesu, p. 10) M.M.