Phumelela can stay in the race if lockdown eases soon, says chair
Company will have to retrench workers if lockdown is extended beyond end-April, Moses Tembe says
22 April 2020 - 20:46
As SA nears the fifth week of lockdown, Phumelela Gaming & Leisure, which is reeling from the lack of horse racing and betting activities, says it is confident it will weather the storm.
The country's largest horse-racing group, which has lost 43% of its market value so far this year, said on Monday that if SA’s lockdown is extended past the beginning of May, there is likely to be significant job losses in the racing industry. SA is under a five-week lockdown aimed at flattening the coronavirus infection rate curve...
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