Hollywood Sportsbook Holdings (Hollywoodbets) has officially finalized the acquisition of Gold Circle, a key player in the KwaZulu-Natal horse racing industry, marking an unprecedented development that will completely alter the South African horse racing scene.
The KwaZulu-Natal Economic Regulatory Authority (KZNERA) has approved this historic agreement, opening the door to a more promising future for the province’s horse racing industry.
The fact that Cape Town and KwaZulu-Natal horse racing are now hosted by the same stable makes this acquisition a significant turning point for Hollywood and ushers in a new era.
In KwaZulu-Natal, in particular, horse racing has a long history and is deeply ingrained in the local economy and culture. The participation of Hollywoodbets in racing is not new. The company has already increased its influence in Cape Town and is well-known for supporting key sporting teams, such as the cricket side Dolphins.
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“We are fully committed to securing the future of the horse racing industry in KwaZulu-Natal and are privileged to be in a custodial position to carry the baton into what will be a bright and prosperous future for the sport and all stakeholders in the region and beyond. The investment that commenced some time ago will continue, with plans to change the face and broaden the appeal of the business that operates in one of the most exciting sports internationally, with a global reach of over 584 million households,” said Hollywood CEO, Suren Rampersadh
Approximately 6,000 employment in the province will be directly and indirectly maintained by this investment, which will also provide funds for the modernization of training facilities and racetracks across KwaZulu-Natal. The improvements will include a revised racing program, updated prize money, and incentives to encourage racehorse ownership, which will raise field sizes and betting turnover.
The Hollywoodbets Greyville Polytrack has started renovations and lighting system upgrades. Day-night racing opportunities, which have grown in popularity among spectators, will be made possible. Complete improvements will be made to the Summerveld Training Centre, including better roadways, grooming quarters, and stabling.