Tag Archives: phumelela

Betfred bid for bankrupt Phumelela refused

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 …

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Betfred counters Oppenheimer bid in race to rescue Phumelela

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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Phumelela and ARC announce media rights deal for South African horseracing

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 …

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Dispute over horseracing coverage continues in South Africa

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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