Tsogo Holdings Adds to its SA Casino Portfolio
Tsogo Holdings, the leading South African hotel and leisure firm which is listed on the Johannesburg stock exchange, announced on Tuesday that it had added assets to its South African casino portfolio by making sound business acquisitions. The group said that it had acquired 40% equity interest in SunWest International, the hotel firm, as well as another 40% in Worcester Casino. The price tag on the two deals was R2.1 billion, and the group said that the acquisitions – made from Sun International – would be settled in cash from its existing cash resources.
According to Tsogo Holdings, it was interested in making these purchases as it was keen to add to its casino assets – an area which it felt it needed more exposure in the dynamic and highly competitive South African casino and gambling sphere.
Tsogo Holdings’ policy has always been to invest capital in appealing prospects in the country’s hotel and gaming industry.
Ventures-Africa.com explained that “these equity interests are being acquired from another gaming, leisure and hotel firm, Sun International (South Africa), a wholly owned subsidiary of Sun International, and Afrisun Leisure, another subsidiary of Sun International (South Africa).”
SunWest International is probably best known for its GrandWest Casino and Entertainment World which it operates in Cape Town. Considered one of the largest entertainment destinations of its kind in South Africa, GrandWest Casino offers 24/7 gaming and leisure, through restaurants, bars, nightclubs, theaters and of course, its famous casino floor – all under one roof. The casino itself boasts over 2,500 slot machines and nearly 80 premium table games, with smoking and non-smoking facilities. High rollers will appreciate the Prive section for exclusive gaming options. GrandWest also offers 10 Texas Hold em poker tables in its Poker Pit, situated on the main casino floor.
The Worcester Casino, known as the Golden Valley Casino and situated in the picturesque Breede River Valley, provides a warm and inviting gaming and entertainment environment for visitors. Open 7 days a week and 24 hours a day, the casino offers a smoking and non smoking floor with slots and table games. The Golden Valley Casino is also home to hotel accommodation, and located near several top quality eateries.