Hotel‚ gaming and entertainment group Tsogo Sun‚ through it subsidiary Tsogo Sun Gaming‚ will acquire a 20% interest in each of SunWest International and Worcester Casino for R1.35bn‚ the group announced on Monday.
It said the transaction represented an attractive investment opportunity for Tsogo and which would provide Tsogo with an interest in quality casino assets in the Western Cape‚ an area where Tsogo had limited exposure.
The Proposed Transaction is consistent with Tsogo’s growth strategy of allocating capital to attractive opportunities in the hotel and gaming sector‚ it said.
SunWest conducts the casino‚ leisure and entertainment business in respect of the GrandWest Casino and Entertainment World in Goodwood in Cape Town.
It also owns the Table Bay Hotel on the Victoria & Alfred Waterfront in Cape Town.
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