Johannesburg - Horse racing operator 4Racing have been granted licences by the Gauteng Gambling Board, paving the way for it to assume management of Highveld Racing operations.
The Gauteng Gambling Board on Friday granted 4Racing the transfer of the Totalizator, Bookmaker and Race Meeting licences from Phumelela Gaming and Leisure Limited at Turffontein Racecourse.
This follows the earlier transfer of licence approvals received by 4Racing from the Mpumalanga Economic Regulator, the Eastern Cape Gambling Board, the Western Cape Gambling and Racing Board and the Free State Gambling, Liquor and Tourism Authority.
“The transfer of the operating licences from the Gauteng Gambling Board to 4Racing is a major step forward for the South African horse racing industry.
"It allows 4Racing to bring stability to the industry and the over 1000 people currently employed by Phumelela.
"We have been hard at work in preparation for the granting of all licences we have applied for, and for the completion of the transaction with Phumelela. We will soon share more details of our future vision,” said 4Racing Chief Executive Officer, Fundi Sithebe.
In compliance with Gauteng Gambling Board licence conditions, 4Racing chairperson Mxolisi Zwan has agreed to step down from his position.