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South African horseracing and tote betting operator Phumelela Gaming and Leisure Limited has reportedly turned down a rescue deal that was to have seen giant British bookmaker Betfred purchase its entire business for approximately .South African horseracing and tote betting operator Phumelela Gaming and Leisure Limited has reportedly turned down a rescue deal that was to have seen giant British bookmaker Betfred purchase its entire business for approximately .According to a short report from Gambling Insider, the Johannesburg-headquartered firm has instead opted to accept an earlier offer from one of its largest creditors, private equity investor Mary Oppenheimer Daughters, that will involve it receiving just over ....


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