Hollywoodbets Takes Over Gold Circle After Final Regulatory Approval
South African horse racing begins a new era as Hollywood Sportsbook Holdings secures final regulatory approval to acquire Gold Circle, injecting over R500 million into reviving the sport in KwaZulu-Natal. The landmark deal arrives just days before the start of the 2025 Champions Season.
Regulatory Approval Marks Turning Point
On 1 May 2025, the KwaZulu-Natal Economic Regulatory Authority (KZNERA) gave its final approval for Hollywoodbets’ acquisition of Gold Circle. This move formalizes an agreement that originated in 2023, with members approving the deal during a special general meeting in September of that year.
The transaction signals a strategic rescue plan for horse racing in KwaZulu-Natal, a region with a rich racing heritage but one that has struggled amid economic pressures and shifts in the betting industry.
R500 Million Investment to Reshape the Industry
Hollywoodbets has committed to a major financial package to modernize and stabilize racing operations in the province. The initiative includes upgrading infrastructure at racing venues, enhancing prize money, and improving facilities at key locations such as the Summerveld Training Centre. Planned improvements range from stabling and grooms’ accommodation to lighting upgrades that align Greyville with international night-racing standards.
The investment aims to protect the livelihoods of roughly 6,000 people connected to the industry while attracting new stakeholders and increasing field sizes – crucial for boosting betting turnover.
Operational Changes Already Underway
Though the ownership transfer only took effect in May, Hollywoodbets had already begun work on facility upgrades. Renovations at Hollywoodbets Greyville, including its Polytrack and lighting systems, were completed in anticipation of the Champions Season.
Plans for Summerveld are also progressing, with infrastructure renewal high on the agenda. These efforts align with broader goals to make racing more appealing to modern audiences and improve overall sustainability.
Focus on Revitalization and Growth
Hollywoodbets CEO Suren Rampersadh confirmed the company’s commitment to ensuring long-term success for the sport.
“We wish to reaffirm that 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 we firmly believe 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 broad appeal of the business that operates in one of the most exciting sports internationally, with a global reach of over 584 million households. This has been a long journey, and we are super-proud that our team has got it over the line. I am sure that our pride is more than matched by the relief and renewed enthusiasm of all stakeholders”
The announcement coincides with the launch of the 2025 Champions Season, kicking off at Hollywoodbets Greyville this Saturday. The three-month series will culminate in the 129th Hollywoodbets Durban July on 5 July 2025.
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