Horse-racing operator Phumelela Gaming and Leisure has been placed in business rescue.
The board “is of the view that the best option to ensure the long-term survival of the company and the sport of horse-racing, is to implement a business rescue plan,” Phumelela said. Phumelela’s move follows the actions of other high-ranking companies such as Edcon and Comair, which recently announced their decisions to go in business rescue, a move that could result in thousands of job losses.
5 or 6 years I got I thought this business was going to be one of the largest ever. I saw the increase in betting very early and thought they have very large market of it but bona fela 😑. Mathata dia tsaya kae
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