Purple Capital says bye bye horse racing...

Bye bye horse racing, hello GT247 as Purple Capital goes back to its CFD core business
By Editor on November 7, 2013 in Interviews

I’ve always liked the way Charles Savage and Mark Barnes, his chairman at Purple Capital, go about their business. These are two of the great characters of SA’s financial services sector. Never afraid to have a go, they’ve also got the bruises to prove that experience sometimes brings pain. Today’s trading update from their under-performing JSE-listed stock suggests they’ve decided on an alternative road into the future. Purple is going back to its core business in retail CFD and derivatives trading operation Global Trader. And having sold its sports-betting arm Voltbet, will also be distributing a chunk of capital, suggesting no more acquisitions for a while. The sale of Voltbet signals the end of Purple’s audacious attempt to transform South African horse racing. It won’t be as much fun watching Purple Capital in future. But investors are sure to be well pleased with the result of a more conservative. more focused approach. – AH


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New sports betting site Sunbet .co.za...

I like the 5000 matched
No racing at this stage ( watch this space )

scotia Wrote:

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> I like the 5000 matched
> No racing at this stage ( watch this space )


Is this a first for Sun international to go into sports betting ...