UK bookmaker Betfred has bought into the South African betting industry for the first time, buying Betting World through the new Betfred South Africa brand.
The deal is reported to have been worth £6.1m for the Phumelela online betting company. The financially-troubled Phumelela Gaming and Leisure suspended trading on the Johannesburg Stock Exchange when it field for bankruptcy protection.
Betfred had initially tried to pick up all of the Phumelela racetrack properties but its offer was refused.
