French sports betting company PMU and South Africa-based Phumelela Gaming and Leisure have formed a consortium in an effort to win the right to offer tote betting on horse races in Greece.
The directors of the Hellenic Republic Asset Development Fund, which is overseeing the sale of certain government assets, have qualified the new company, 2PU, for the tender procedure.
The successful bidder will be granted the right to organise and conduct mutual betting on horse races for a period of 20 years. This right is currently exercised by the Hellenic Horseracing Company.
PMU and Phumelala, the latter of which operates and manages horse racing and tote betting in eight of South Africa’s nine provinces, said they were working on a project that “will benefit the whole Greek horse racing industry” and enable “sustainable and profitable” growth of the betting market.
At the end of April, HRADF revealed that two of the biggest companies in the sector worldwide had expressed their interest in conducting tote betting.
