Major Victory For Horseracing

The decision by the Competition Tribunal to give the green light to the merger between Kenilworth Racing and The Thoroughbred Horseracing Trust is a major victory for the sport of horseracing in the Western Cape.

That’s the view of Vidrik Thurling, chairman of the Western Province Racing Club and a director of Kenilworth Racing.

“I’m elated and relieved,” said Thurling. “It’s an absolutely vital outcome for the future and longevity of Western Cape racing, which produces many of the country’s top horses annually.”

“Gold Circle KwaZulu-Natal had indicated they were going to challenge the stakes agreement in terms of Western Cape’s share of prize money. Had this resulted in diminished prize money for Western Cape horseracing, there would ultimately have been a mass exodus of horses from Cape Town and racing in the region would have gone many steps backwards.

“When racing in the Western Cape and KwaZulu-Natal came together under the Gold Circle banner, the Western Cape staged more than 100 meetings annually. Next year there will be only some 85 meetings in the area. If we had fallen into a downward spiral of less prize money and fewer races in the Western Cape, it would have been bad for both Cape Town and South African racing. The whole of South Africa bets on races in the Western Cape and fewer race meetings here has a negative impact on the sport of horseracing nationally,” said Thurling.

South African horseracing and tote betting company Phumelela Gaming And Leisure has also commended the Competition Tribunal on its decision to approve the merger between Kenilworth Racing and The Thoroughbred Horseracing Trust.

The JSE-listed company is currently managing Western Cape racing under the control of Gold Circle (Pty) Limited in terms of an agreement to outsource this function to Phumelela.

Rian du Plessis, Group CEO of Phumelela, said approval for the mergers involving Kenilworth Racing would enable energetic action to be taken to return Western Cape horseracing to profitability.

Du Plessis said: “The over-riding priority of all parties is to save jobs and put Western Cape horseracing on a viable footing. The tribunal has set only one condition – that no retrenchments of Kenilworth Racing staff take place for two years.

“I believe all parties will happily accept this stipulation as our core focus from the outset was to secure the sustained, long-term future of Western Cape horseracing and thereby assure the continued employment of all those people who depend for their livelihood on the sport of horseracing.

“We commend the tribunal for their work and their far-sighted ruling.”

www.sportingpost.co.za/2012/11/19/frontp...etition-commission-2

I hope that Phumelela turn out to be the saviour that everyone hopes for, seeing as though they completely fcuked every other centre that they got their dirty theiving paws on.

"Rian du Plessis, Group CEO of Phumelela, said approval for the mergers involving Kenilworth Racing would enable energetic action to be taken to return Western Cape horseracing to profitability."


Is this the same Phumelela who have controlled racing in Gauteng and who complain that horesracing operations run at a loss and are supported by betting on soccer and sale of coverage overseas. Maybe after they have made the Cape racing profitable they can also do the same for the other areas they have a monopoly in.

Its all a bunch of pandering bollox.........

I'm sure Cape racing will now do better as there, currently is only one way and that is up.....they cannot go down any further.

Phumelela does now and will moving forward only worry about one thing.....the bottom line. they are a listed company who have to report to a board regarding their shareholder obligations.

Gajima is right. They keep on complaining about local racing being a drain on their bottom line. Only international racing and soccer 6 keeping them going........

I repeat, what a bunch of bollox.

Gajima,like you ,I am confused......................your comments are my thoughts exactly.
I have to wonder what the 30 pieces of silver are wrapped in............................. or is the Western Cape saying that... "although we live in the area and have a knowledge of the population we are incapable of putting a management team in place to run racing in the province."

One of the comments I found interesting was that "there is a perception of asset stripping" ??
Bloemfontein ,Gosforth park ,Newmarket and Arlington are no longer in the asset register of any racing body...............is that a perception?

Soon to be Clairwood a gonna as well and if the Cape don't watch out then Durbanville going the way of the Dodo. Can;t imagine they will get rid of Kenilworth due to the QP and the Met being big parts of the social calendar but I'm sure the same was said of Milnerton when all the big races were run there?

When the right offer comes in then anything, I repeat anything is for sale.

Good luck to the Cape Town boys, you deserve to get good management but just be weary when the Trojan horse gets a hold of your shiny objects.........

All bets, then, will be off.

@rob faux, Gajima, etc

'Bloemfontein ,Gosforth park ,Newmarket and Arlington are no longer in the asset register of any racing body...............is that a perception?'

That was not disclosed at the hearing....was it?

Maybe 'cos it was a perception!

My perception is; the Tribunal will re-visit the presentations as it is perceived that the RBB only sought to discredit the findings of Genesis and under-mined the Board (sic Chairman).

A perception sirs! Just a perception!


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Ii

No comment! I'm retired from politics