Phumelela Agrees Consideration In Supabets Deal (update)

By Brian Cullingworth, Last updated Sep 23, 2016

R437 million for 50 percent share

Johannesburg Stock Exchange-listed, South African horse racing and totalisator betting operator Phumelela Gaming and Leisure Limited has finalised the acquisition of a 50 percent interest in Supabets SA Holdings Proprietary Limited, a sports betting operator focused on the African continent.
According to a press statement, Phumelela and Supabets agreed on a sustainable net profit after tax (NPAT) of R94.5 million, leading to a total purchase consideration of R437 million.
Supabets SA Holdings (Pty) Ltd. was founded in 2008 and operates as a subsidiary of Anastassopoulos Family Investments Holding Company Proprietary Limited.
The deal has been in the works since December 2015 and was green-lighted by South Africa's Competition Commission last month.

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Brian Cullingworth

Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.

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