Cape Racing – Hailing A New Era

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Cape Racing – Hailing A New Era

3 months 2 weeks ago
#873918
Fourteen months after the gates were sprung on South African horseracing’s largest corporate financial transaction, the Western Cape Gambling and Racing Board approved the acquisition of Kenilworth Racing (Pty) Ltd by Hollywood Sportsbook Holdings (Pty) Limited on 31 October 2023.

Hollywoodbets proudly announced this week that Cape Racing is now a wholly owned subsidiary of South Africa’s leading sportsbook operator, and that innovation and changes in personnel, philosophy, policy and bricks and mortar, have advanced at a rapid pace following the approval of the underlying transaction by the Competition Commission in April of this year.

Hollywoodbets has injected substantial investment into the infrastructure and facilities at the flagship Hollywoodbets Kenilworth racecourse, the rustic Hollywoodbets Durbanville racecourse, and in the engine room of the sport in the region, the Milnerton Training Centre on the West Coast.

Hollywoodbets’ CEO, Suren Rampersadh said that they were delighted that this very strategic acquisition for the South African horseracing and breeding industry has been given the green light.

“It is well documented that Cape Racing has been in the doldrums for years. Thousands of jobs have been at risk. Stakeholders have been neglected and had become disillusioned. The renaissance of horseracing, not only in the Western Cape, but also in KwaZulu-Natal has begun. Hollywoodbets is taking this opportunity seriously and we are investing accordingly,” he added.

Mr Rampersadh continued that under the dynamic leadership of Hollywoodbets’ partner, Greg Bortz, the transformation towards a brighter future is unfolding at warp speed, and there are encouraging signs that the confidence of all participants in this great sport has been revived.

“Horseracing remains an important component of our business. Hopefully, the acquisition of Gold Circle will be successfully completed in 2024,” he concluded.

The concept of a ‘coastal racing’ operator is on the cards after the Members of Gold Circle Racing Club approved the sale of Gold Circle to Hollywoodbets on 19 September 2023. That transaction will now be subject to approval of the Competition Commission and the KwaZulu-Natal Gaming & Betting Board.

While Hollywoodbets Durbanville has fulfilled a vital role as a support venue in the build-up to the Cape’s high-class summer racing season, the return to Hollywoodbets Kenilworth on Sunday 26 November, has caused waves of excitement and unprecedented anticipation throughout the local racing community.

Once the improvements have been completed, plans are well advanced to hopefully elevate Hollywoodbets Kenilworth to rank amongst the top racecourses internationally. Exciting times indeed!


Press Release By Hollywoodbets

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  • mikesack
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Re: Cape Racing – Hailing A New Era

3 months 2 weeks ago
#873923
Do the Gold Circle buildings on the racecourses belong to the Municipalities?
The land the racecourses run on are on 99 year leases from the Municipality.:huh:

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  • Muhtiman
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Re: Cape Racing – Hailing A New Era

3 months 2 weeks ago
#873926
Do the Gold Circle buildings on the racecourses belong to the Municipalities?
The land the racecourses run on are on 99 year leases from the Municipality.:huh:

.....only the Durbanville course is leased.....Kenilworth and all improvements are an outright Cape Racing asset..... and so is a major portion of the Milnerton training and stabling facility.....:unsure:

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Re: Cape Racing – Hailing A New Era

3 months 2 weeks ago
#873932
@ Muhtiman
The Gold Circle tracks Greyville and Scottsville are leased.
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Re: Cape Racing – Hailing A New Era

3 months 2 weeks ago
#873936
@ Muhtiman
The Gold Circle tracks Greyville and Scottsville are leased.

.....that may be so....but no where in the article say that they were being sold/transferred.....the intended acquisition/merger is for the operator(GC) and if they indeed rent/lease any property the new entity would therefore then take over their obligations.....:huh:

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  • cliffordius
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Re: Cape Racing – Hailing A New Era

3 months 2 weeks ago
#873941
Best thing to happen to Cape Racing in recent times is the addition of Alistair Cohen to the commentating team. He's a consummate professional and it's so refreshing to have an accurate description of what's happening on the racetrack ! Welcome to the Cape...

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  • naresh
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Re: Cape Racing – Hailing A New Era

3 months 2 weeks ago - 3 months 2 weeks ago
#873942
Best thing to happen to Cape Racing in recent times is the addition of Alistair Cohen to the commentating team. He's a consummate professional and it's so refreshing to have an accurate description of what's happening on the racetrack ! Welcome to the Cape...

Edit. Incorrect post.
Last edit: 3 months 2 weeks ago by naresh.

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