Phumelela Gaming & Leisure said a proposed amendment to Gauteng’s gambling regulations could cost it R75m a year and could damage the local horseracing industry. In January, a member of Gauteng’s executive council published proposed changes to the province’s gambling regulations, including a proposal that would deprive Phumelela of the 3% betting tax gain it derives from punters’ winnings. The amendment is aimed at directing this tax gain to the Gauteng Gambling Board. Phumelela said it had submitted detailed representations regarding the proposed amendments, supported by an economic impact report. It said the betting tax received by Phumelela in Gauteng accounts for 90% of its betting taxes in SA, and amounts to about R75m per year. “If the amendment is implemented and Phumelela is deprived of the betting tax, it will have a material adverse effect on Phumelela and on racing in general,” the group said. Phumelela said the final amended regulations were likely to be published on Fri...

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