September 3, 2020
Betfred is reported to have been rejected in its last-minute attempt to acquire bankrupt South African heritage wagering and racetrack operator Phumelela Gaming & Leisure. South African racing news sources reported that Phumelela’s bankruptcy auditor refused to review Betfred’s ZAR 900 million (€45m) counteroffer submitted at the end of August as Phumelela closed its window for rescue proposals. Stating its …
Read More »August 26, 2020
South African business news sources report that Betfred is preparing a counter-offer ranging between ZAR 875-to-925 million (€44-46m) to acquire embattled heritage wagering and racetrack operator Phumelela Gaming & Leisure. Forced to close its venues due to coronavirus restrictions last May, Johannesburg high court placed Phumelela assets under bankruptcy protection, allowing the company to seek investors to avoid outright liquidation. …
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