phumelela Archives

Betfred invests in LottoStar to accelerate South African drive

June 24, 2022

Betfred has significantly expanded its presence within South Africa, taking a ‘major shareholding’ in LottoStar to advance the market leader’s online betting offering. Marked a major corporate initiative, Betfred will invest in LottoStar, which is recognised as South Africa’s leading brand for fixed-odds numbers betting and Live Games. “LottoStar has quickly developed itself as a leading brand, recognised nationally across …

Betfred purchases Betting World to crack South Africa

June 2, 2021

Betfred has secured a foothold in the South African betting market, purchasing Betting World (bettingworld.co.za) from Phumelela, conducted via the newly established Betfred South Africa brand. Carried out at a purchasing price of R120 million (£6.1 million), subject to final adjustment relating to the net capital of working items, the transaction was considered officially concluded as of 31 May. The …

Betfred bid for bankrupt Phumelela refused

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 …

Betfred counters Oppenheimer bid in race to rescue Phumelela

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. …

Phumelela and ARC announce media rights deal for South African horseracing

December 15, 2015

Phumelela Gaming and Leisure (Phumelela) and Arena Racing Company (ARC) have announced a major media rights deal which will ensure that South African horseracing will continue to be available to be broadcast in UK and Ireland betting shops until the end of 2022. Under the current terms of the deal, which is dated from June 1st 2016 to the end …

Dispute over horseracing coverage continues in South Africa

July 30, 2014

A row over broadcast rights to horseracing in South Africa doesn’t appear to be heading to a conclusion soon if press statements from all the warring partners are any indication. The Phumelela-part owned Tellytrack has been aggressively defending its commercial licences of late by clamping down on any retail bookmaker showing its racing TV channel for the domestic environment. Tellytrack …

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Tag Archives: phumelela

Betfred invests in LottoStar to accelerate South African drive

Betfred purchases Betting World to crack South Africa

Betfred bid for bankrupt Phumelela refused

Betfred counters Oppenheimer bid in race to rescue Phumelela

Phumelela and ARC announce media rights deal for South African horseracing

Dispute over horseracing coverage continues in South Africa

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