The Gauteng Gambling Board has issued operating licenses to 4Racing, a horse racing operator with a focus on value. With this grant, 4Racing takes over Highveld Racing Operations to provide better horse racing services.
This comes after the Gauteng Gambling Board made major shake-ups in horse racing licenses in favor of 4Racing. The board had transferred licenses held by Bookmaker, Race Meeting, and Totalizator from Phumelela Gaming and Leisure Limited, to 4Racing.
Before now, there was a transfer of licenses to 4Racing from the Eastern Cape Gambling Board and Mpumalanga Economic Regulator. The licenses by the Free State Gambling, Liquor, and Tourism Authority as well as the Western Cape Gambling and Racing Board were also transferred.
Fundi Sithebe, the Chief Executive Officer of 4Racing commented on the development; “The transfer of the operating licenses from the Gauteng Gambling Board to 4Racing is a major step forward for the South African horse racing industry.”
“It allows 4Racing to bring stability to the industry and over 1000 people currently employed by Phumelela.
“We have been hard at work in preparation for the granting of all licenses we have applied for, and for the completion of the transaction with Phumelela. We will soon share more details of our future vision,” she noted further.
To follow Gauteng Gambling Board rules for licenses, Mxolixi Zwan, Chairperson of 4Racing, has accepted to leave his office. This will pave the way for new leadership to take over and enforce all due diligence and corporate governance rules.
Positioning the Horse Racing Market for High Value
4Racing is a South African horse racing operator that runs horse racing outlets, such as Tab Online, Highveld Racing, and Cape Racing. It also runs the Mandela Bay Racing and Computa Form. Tab Online is one of the best betting sites in South Africa with millions of horse racing players.
With the recent transfers and grants of licenses to 4Racing, the company is set to reposition horse racing. This starts from the reorganization of both the management team and the board leadership of the company.
4Racing operates on four principles, including radical transparency, embracing the power of partnerships, profiting through purpose, and drive for transformation.
These principles represent great value addition to players at all times. The company prioritizes responsible gambling and prompt awarding of winnings to lucky players.