Betfred Acquires Betting World
Betfred has paid £6.1m for the sports betting subsidiary of Phumelela Gaming.
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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iGaming News • South Africa