Betfred Acquires Betting World
Betfred has paid £6.1m for the sports betting subsidiary of Phumelela Gaming.
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Leading sportsbook and casino operator, Betfred, has successfully acquired Betting World from Phumelela. According to various sources, Betting World has struggled in recent times, with this takeover being a welcome deal from all parties.
The deal, which comes after Phumelela rejected Betfred's offer to acquire the whole Phumelela business last year, took place in May 31st, with Betfred paying £6.1m for the sports betting subsidiary of Phumelela Gaming.
Phumelela was placed in a state of business rescue last year as a result of the Covid-19 pandemic.
Phumelela made moves to cease business in December after it delisted from the Johannesburg Stock Exchange, a decision that would see the business broken up to repay creditors.
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