Phumelela shares slide to a 15-year low amid gambling industry shake-up
The horseracing group is having a rough time, with its profit under threat by harsh new rules and a bruising battling with the public protector
10 June 2019 - 18:12
Phumelela Gaming & Leisure’s shares have slipped to their worst level in nearly 15 years amid a mooted shake-up of Gauteng’s gambling regulations that could shave millions off the company’s profits.
In March, Phumelela said the proposed amendment to Gauteng’s gambling regulations could cost it R75m a year while also damaging the local horseracing industry...
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