Tsogo Sun and Sun Global Consider New Western Cape Casino Deal
South African gambling operators Tsogo Sun and Sun International have revived plans for Western Cape casino ownership reshuffle. Tsogo Sun has revealed so it would obtain a 20% stake in 2 Sun International subsidiaries that operate casinos into the Western Cape.
Last summer time, the 2 companies canceled a deal, underneath the terms of which Tsogo Sun would have paid R2.1 billion for the stake in two Western Cape gambling venues GrandWest Casino and Golden Valley Casino, owned by its competing Sun International. Following a study by the regulators that are relevant the united states’s Competition Commission suggested that your competition Tribunal prohibit the offer. If, but, the transaction have been finished, Tsogo Sun could have had impact in all five casinos operating in the Western Cape.
Not as much as a year following the two gambling businesses abandoned the offer, these are typically now planning to materialize another, less committed, idea. Tsogo Sun has established that it’s purchasing a 20% stake in Sun Global’s subsidiaries SunWest International and Worcester Casino. The company is to pay the total amount of R1.3 billion.
Thus, Sun Global would stay in control of a controlling stake in the two businesses and would also enable its partner Grand Parade Investments to remain active in the South African gambling industry. Individuals with familiarity with the matter suggested that the deal that is proposed be classified as being a non-notifiable, which means that it is really not apt to be investigated by competition authorities.