Phumelela profit races ahead

Johannesburg - Phumelela Gaming and Leisure, Africa’s biggest horse racing and tote betting company, reported a 31 percent increase in total profit to R64.97 million as it reaped the rewards of selling live horse racing broadcasts abroad.

The news sent the shares up, closing 7 percent higher at R21.40 on Friday. Key drivers were Phumelela’s 50 percent investment in Premier Gateway International on the Isle of Man and the export of live broadcasts of South African horse racing to six continents.

Read more mini.iol.co.za/business/companies/phumel...-races-ahead-2010787

It begs the question who benefitted from corporatisation...............shareholders clearly,but at the same time stakes are falling way behind inflation,trainers are turning to other ways of making a living,assets continue to be sold without sensible adequate re-investment(we can't afford an all weather track in Gauteng)
Lets hope the stakeholders react before its too late!

Interesting that the real profits are the rewards "r(e)aped" from local racing export...........it would appear that much is going to the bottom line and little to fund the local stakeholders ...........if that is so ,why?
Are owners ,trainers and jocks getting an adequate share(royalty) for the product they produce in partnership with the operators - not much different to "P" s argument re bookmakers contribution to pictures!!!!!!!!

The RA is a very big shareholder if not the biggest. That is how a sizeable proportion of Phum's profits are supposed to be redistributed into racing.

Phumelela owns 50% of Premier Gateway Who are the other shareholders?
Maybe an ABC member knows Or will we have to wait for the Panama papers

elmer wrote: Phumelela owns 50% of Premier Gateway Who are the other shareholders?
Maybe an ABC member knows Or will we have to wait for the Panama papers

Supabets is going to rake in the money for them.

Mac wrote: The RA is a very big shareholder if not the biggest. That is how a sizeable proportion of Phum's profits are supposed to be redistributed into racing.

I think the Thoroughbred Racing Trust is the biggest shareholder at 35%...........As far as I am aware the RA merely liases with various areas of racing,on behalf of owners ,the trust being one!

naresh wrote:

elmer wrote: Phumelela owns 50% of Premier Gateway Who are the other shareholders?
Maybe an ABC member knows Or will we have to wait for the Panama papers

Supabets is going to rake in the money for them.

Tabcorp (Aus)

Phumelela: Shareholders




Shareholders

*Beneficial Shareholders with 3% or more:

The Thoroughbred Horse Racing Trust 35.26%
Sanlam 8.98%
Gride Investments (Pty) Ltd 5.03%
JPMorgan (Custodian) 4.98%
Dihla Investment Holdings (Pty) Ltd 4.87%
Yerranzano Property Investments Limited 4.79%
Vela Phumelela Investments (Pty) Ltd 4.54%
Eskom Pension and Provident Fund 3.79%

If not all of it, do you know how much of the R65m is returned?