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Tsogo Sun and Sun International Consider Brand New Western Cape Casino Deal

Wednesday, January 1st, 2020

Tsogo Sun and Sun International Consider Brand New Western Cape Casino Deal

South gambling that is african Tsogo Sun and Sun International have revived plans for Western Cape casino ownership reshuffle. Tsogo Sun has revealed it would buy a 20% stake in two Sun Global subsidiaries that run gambling enterprises into the Western Cape.

Final summer, the 2 businesses canceled a deal, underneath the terms of which Tsogo Sun might have compensated R2.1 billion for a stake in 2 Western Cape gambling venues GrandWest Casino and Golden Valley Casino, owned by its rival Sun Global. After an investigation by the relevant regulators, the country’s Competition Commission recommended that your competitors Tribunal prohibit the offer. If, nonetheless, the transaction was indeed finished, Tsogo Sun might have had impact in all five gambling enterprises running in the Western Cape.

Significantly less than an after the two gambling companies abandoned the deal, they are now planning to materialize another, less ambitious, idea year. Tsogo Sun has announced that it’s to shop for a 20% stake in Sun International’s subsidiaries SunWest Global and Worcester Casino. The business is to pay the amount of R1.3 billion.

Thus, Sun Global would stay in control of the controlling stake within the two organizations and would additionally allow for its partner Grand Parade Investments to remain active in the South African gambling industry. People with familiarity with the problem recommended that the proposed deal would be classified as being a non-notifiable, which means that it’s not apt to be examined by competition authorities. [more…]