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PHUMELELA Gold Enterprises (PGE) and Dragonfish, the independent B2B division of 888 Holdings Plc, are delighted to announce the signing of a strategic agreement that potentially could provide a significant boost to South African horseracing.
The strategic agreement between PGE and Dragonfish will not only assist in strengthening South African horseracing as an international brand but should contribute to stakes in this country through potentially increased profitability for PGE.
In terms of the agreement, South African races will be screened live on the internet through Dragonfish licensees and 888.com, whose customers will be able to take tote bets on these races with TAB utilising their Dragonfish licensee or 888 accounts.
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Horseplayers and Soccer 6 fans can now use their cell phones to bet online with TAB.
TAB, in conjunction with Smartcall Technologies, has developed a unique WAP application that allows WAP enabled cell phones to be utilised for online betting. WAP is the technology that enables the internet to be accessed via a cell phone.Online wagering offers several advantages over other betting channels, notably that customers process their own bets and are thus in total charge of their transactions from start to finish.
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PHUMELELA Gold Enterprises has concluded an agreement with online fixed-odds operator Interbet that allows tote bets with TAB to be taken through the Interbet site.Interbet is an online betting exchange for licensed bookmakers, while punters can take fixed-odds on horses to win or place but cannot lay bets. Enabling access to TAB pools from the Interbet site will assist in driving tote turnovers.
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CONTRARY to speculation in some horseracing circles, Phumelela would like to point out that it has not contracted or retained the services of former Gold Circle CEO Michel Nairac in any shape or form. Further, Phumelela would like to reiterate that it has always publicly stated that it is in favour of a merger or a closer working relationship with Gold Circle. At this point, however, any speculation or announcement in this regard is premature. JSE-listed Phumelela operates horseracing and/or tote betting in seven of South Africa’s nine provinces including Gauteng. Gold Circle is the horseracing and tote betting operator in KwaZulu-Natal and the Western Cape.
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Rian du Plessis
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PHUMELELA GAMING AND LEISURE LTD – OVERVIEW OF UNAUDITED INTERIM RESULTS FOR SIX MONTHS ENDING JANUARY 2009Highlights: - Despite the global economic slowdown, international operations continued to grow with revenue up 56% on the comparative period to R178,3 million. Headline earnings from ongoing operations for the comparative period down 8% to R 38 million (2008: R41,4 million). Diluted HEPS from ongoing operations down 7% to 50,15c per share (2008: 54,12c).
- Revenue from local operations slowed to R1,3 billion but showed a 3% increase on the comparative period while net betting income which is a factor of betting revenue increased by 3% on the comparative period to R273,1 million.
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