PETITION TO REINSTATE VEE MOODLEY
AS HEAD OF BETTING IN HORSE RACING IN SOUTH AFRICA
TO: Punters; Owners; Grooms; Fans; Employees; Trainers; National Gambling Board (cc); Gauteng Gambling Board (cc); Western Cape Gambling Board (cc); South African Media Association (cc); Parliamentary Gambling Committee (cc); Department of Labour (cc); Departments of Economic Development (cc); South African Racing Grooms Association (cc); African National Congress (cc); Economic Freedom Fighters (cc); South African Broadcast Association (cc); National Bookmakers Association (cc); Facebook; Instagram; Twitter; What’s App National Database; and to whom this may concern;
We have taken a while to get our ducks in a row. We have spoken to many high rollers, trainers, employees, and we believe the right people to get the story as accurately as possible. We are damn sure this is as close as you going to get to understand what went wrong before, and what’s wrong now.
Grievance: Betting turnover is by large the majority revenue to sustain horseracing in South Africa. Since the demise of Phumelela Gaming, a new company entered into an agreement to ensure the sustainability of horseracing in South Africa. Mary Oppenheimer Daughters (MOD) c/o 4Racing were officially licensed to operate, control, and manage horseracing in this country (as we understand it) from 1 December 2021. It must be noted, that 4Racing allegedly shadowed previous management for one year before officially signing in. It is a known fact that 4Racing will declare a huge loss at the end of July 2022 when compared to the 2021 financials, allegedly showing a turnaround of more than R175 000 000 (One hundred and Fifty Million Rand) in losses. Turnovers continue to decline daily as it has become evident that 4Racing are completely out of depth taking on a business that they clearly have very little (if any) knowledge about. The betting department has made no effort whatsoever to turn these losses around. Tote punters, owners and all interested parties will not tolerate this any longer and we now demand that previous betting experts are handed back this division before the illness becomes a terminal one.
Vee Moodley, a 53-year-old accountant born in Kwa-Zulu Natal, was employed by Phumelela Gaming in 2010. During Moodley’s reign he grew tote turnover from 1,8 billion to 3,3 billion up to December 2018. He also managed Betting World who showed profits more than R50 000 000 (Fifty Million Rand per annum) up to and including December 2018 (see latest Phumelela financials). Moodley was also responsible for growing soccer pools from R100 000 000 (One hundred million rand) per annum in 2010 to over R1 000 000 000 (One Billion Rand) up to and including December 2018. It is a known fact that Moodley’s CEO, Rian du Plessis resigned from Phumelela Gaming in September 2018. A new CEO was appointed on 1 October 2018, a 60-year-old white male namely John Stuart. After hearing this, Moodley handed in his resignation in December of 2018. After Moodley took up his new role as the CEO at the National Horseracing Authority (NHA), a Robert Scott, a 50-year-old white male was announced as the new Betting executive at Phumelela Gaming.
Just six months later, losses as of July 2019 compared to July 2018 were alarming, and it was evident that the new appointed leaders were totally useless, careless, and out of their depth. An early appeal in August of 2019 was made by Phumelela Gaming to the Owners Body, The Racing Association, for financial support. It was at this stage when truth hit home and despite Covid putting the matter to death (as we knew it), it became evident that it was dead anyway six months before Covid hit.
The Business Rescue practitioner followed the necessary protocols, and MOD were voted in to take over South African Horseracing. Certain conditions of such support from MOD allegedly included a pay-off to both white males John Stuart and Robert Scott. It’s been alleged that after this both said individuals approached Betfred to desperately try and clutch the sport away from MOD. The offer seemingly grasped the attention of interested parties at the time of the vote on 1 September 2020, however the creditors voted in favour of MOD.
Whilst MOD were waiting for all the necessary approvals, the business rescue practitioner ran the business to the extent that every cent was a prisoner. So much so he was able to show some left-over change (30 pieces of silver, selling the assets that earned annuity income for the company) at the end of the 2021 financial year.
It must be noted that our community are not pointing fingers at MOD. If anything, we are most grateful that MOD stepped in to keep the game alive. Our issue is that the current administration, appointed because of best practice and perhaps with all the best interest at the time, have simply failed to meet the requirements of showing any sign of life or hope, that would satisfy any current interested stakeholders. It is alleged that business partners and family/friends are holding current positions which we were under the impression was left behind when MOD took over. As such we demand they be replaced and to achieve this we insist on reinstating Vee Moodley, who should at the outset have been appointed CEO of Phumelela after du Plessis resigned, and who’s track record in the betting industry is impeccable.
This petition has also come about because MOD were ill advised by the current administration, they sold assets that should not have been sold, and as a result horseracing is hemorrhaging huge losses on daily basis. We no longer have time on our side and we will act now!
Therefore, a group of concerned interested parties, members of various stakeholders in horseracing in South Africa, submit this petition to all those addressed in this notification as follows: -
To Reinstate Vee Moodley as the Betting Executive of Horse Racing in South Africa
Name:
Address + Mobile Number
Signature
This group will be in contact with the details to as to where we would like this petition sent to, for it to be collated. We will be present on all racecourses and in all totes in the interim. May we ask that you please circulate this petition far and wide as our intention is to have all members who are as concerned as we are, complete and submit so that we can save what is left of our wonderful horseracing industry and sport, that we all love so dearly.
We thank you!
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