{"id":39,"date":"2024-06-11T21:56:18","date_gmt":"2024-06-11T18:56:18","guid":{"rendered":"https:\/\/miamiclubcasinonodepositbonus.icu\/2024\/06\/11\/betfred-sets-sights-on-south-africa-with-54-8-million-phumelela-acquisition\/"},"modified":"2024-06-12T10:38:06","modified_gmt":"2024-06-12T07:38:06","slug":"betfred-sets-sights-on-south-africa-with-54-8-million-phumelela-acquisition","status":"publish","type":"post","link":"https:\/\/miamiclubcasinonodepositbonus.icu\/2024\/06\/11\/betfred-sets-sights-on-south-africa-with-54-8-million-phumelela-acquisition\/","title":{"rendered":"Betfred Sets Sights on South Africa with $54.8 Million Phumelela Acquisition"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/JkWIIIjIpmw\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>A major UK sports betting company, Betfred, is targeting the South African market through a planned $54.8 million acquisition of Phumelela, a well-known horse racing entity in the nation.  The transaction, estimated at R925 million, encompasses an initial disbursement of R875 million and a possible earn-out of R50 million linked to Phumelela&#8217;s subsequent profits. Betfred has also pledged to extend a crucial financial lifeline to the struggling Phumelela by providing loans amounting to R650 million to aid in restructuring its debt, which escalated during the COVID-19 outbreak.<\/p>\n<p>This bold purchase seeks to rejuvenate the South African horse racing and wagering sector, which has encountered substantial hurdles lately. Betfred plans to maintain Phumelela&#8217;s complete staff and holdings, guaranteeing steadiness and consistency for the industry.  The agreement signifies a considerable investment in the South African economic landscape and underscores the potential for expansion and progress within the country&#8217;s horse racing and betting arena. <\/p>\n<p>Betfred entered the competitive race for the equestrian racing company, vying with Mary Oppenheimer Daughters (MOD)&#8217;s acquisition offer. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>A major UK sports betting company, Betfred, is targeting the South African market through a planned $54.8 million acquisition of Phumelela, a well-known horse racing entity in the nation. The transaction, estimated at R925 million, encompasses an initial disbursement of R875 million and a possible earn-out of R50 million linked to Phumelela&#8217;s subsequent profits. Betfred [&hellip;]<\/p>\n","protected":false},"author":49,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Betfred Gallops into South Africa with Phumelela Acquisition<\/title>\n<meta name=\"description\" content=\"UK betting giant Betfred sets its sights on South Africa, aiming to acquire Phumelela for a cool $54.8 million. 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