Phumelela Gaming and Leisure widens losses
DURBAN –
South Africa’s largest horse racing operator Phumelela Gaming and Leisure widened its losses from operations to R93.5 million in the six months to end January, negatively impacted by deeping losses in local operations.
South Africa’s largest horse racing operator Phumelela Gaming and Leisure widened its losses from operations to R93.5 million in the six months to end January, negatively impacted by deeping losses in local operations.
This loss was up from last year’s loss from operations of R39.8m.
Phumelela said the current results also reflect the withholding of its 50 percent share of the 6 percent levy on punters’ winnings on fixed-odd bets on horse racing in Gauteng.
Source: iol.co.za