PHUMELELA MEDIA RELEASE
SUBJECT: Phumelela and Tabcorp to grow strategic relationship
DATE: Thursday 7 April 2011
RELEASED BY: Phumelela Gaming and Leisure Limited
Phumelela Gold Enterprises (PGE) and Tabcorp today announced an important development in their strategic relationship.
PGE and Tabcorp will jointly own the international totalisator gateway business currently operated by Phumelela Gold International, a Phumelela Group company based on the Isle of Man (subject to satisfaction of conditions mentioned below).
The relationship will take the form of an incorporated joint venture known as Premier Gateway International (PGI). Tabcorp is the first international tote operator to accept the invitation to join PGE in the gateway business.
PGE and Tabcorp share the vision of global co-mingling and this joint venture between the two organisations is the first step towards achieving that goal.
The variety of systems and technologies utilised for tote betting in racing jurisdictions across the globe is a major hurdle to global co-mingling. This is due to the significant reciprocal investments in time and resources which are required to co-mingle tote pools.
A global tote gateway, such as PGI, expedites and facilitates co-mingling because once a tote system is connected to the gateway, it will have access to other tote systems around the world that are already linked to the gateway.
Rian du Plessis, Phumelela Group CEO, said: “We are delighted at the prospect of entering into this strategic relationship with Tabcorp and look forward to working with them in developing the Isle of Man gateway to its full potential.
“The gateway will offer different tote operators the ability to co-mingle tote pools with different totes through one software solution as opposed to having to develop a variety of solutions,” he added.
David Attenborough, Tabcorp’s Managing Director of Wagering, said: “Tabcorp welcomes the opportunity offered by PGE to be the first major international wagering company to participate with them in the gateway business.
“Global co-mingling has historically been expensive and protracted. This gateway business offers tote operators more efficient and less costly access to other global totes.
“We believe that the Australian and New Zealand racing industry will benefit from the additional export opportunity created by Tabcorp totalisator pools becoming accessible through the gateway. This can build on the $A28m already distributed to the Australian racing industry over the last five years by the Tabcorp-owned Sky Racing, which manages Australian racing’s international rights and exports it to 30 countries.”
The establishment of the PGI joint venture is conditional on Tabcorp, Phumelela and PGI receiving necessary regulatory and racing industry approvals and a number of additional agreements being agreed and finalised between Phumelela and Tabcorp.
About Phumelela Gold Enterprises (PGE)
www.tabonline.co.za
:
Phumelela Gold Enterprises (PGE) is a joint venture between South African horseracing and tote betting operators Phumelela and Gold Circle. PGE is managed by JSE-listed Phumelela and owns the domestic and international broadcast and information rights to South African horseracing. PGE also sets fixtures for all South African racecourses and owns and manages Tellytrack, South Africa's domestic horseracing TV channel.
More information, contact
Robert Garner
General Manager Marketing & Communications
Phumelela
rgarner@phumelela.com
About Tabcorp Holdings Limited
Tabcorp Holdings Limited is Australia's premier gambling and entertainment group. Tabcorp is a market leader in wagering, offering tote odds, fixed odds and sports betting and is the operator of the two largest tote pools in Victoria and NSW. Tabcorp offers wagering through more than 2500 TAB outlets, a call centre and online, mobile and Pay TV channels. Tabcorp’s media arm, Sky Racing, is a national and international racing broadcaster, which is available in 5,100 commercial outlets and 2.3 million homes around Australia.
Nicholas Tzaferis
General Manager Group Corporate Affairs, +61 3 9868 2529
Tabcorp
tzaferisn@tabcorp.com.au
Topic Author
