News INTERNATIONAL UPDATE Tsogo Sun’s solid performer
Tsogo Sun has downplayed impressive growth figures from its properties in South Africa
‘Solid’ is how Tsogo Sun Holdings described its annual results for its first full 12 months of trading following its successful merger with Gold Reef in February 2011, although ‘accelerated’ would perhaps be a better summary.
Total income at R9bn ended 39 per cent higher than the previous year with both casino win and hotel occupancy showing accelerated year-on-year-growth, particularly in the second six months of the year. Bringing Gold Reef properties under the Tsogo Sun umbrella progressed smoothly and is now largely complete, culminating in the rebranding and launch of the group’s new-look identity in April 2012. The redevelopment of the Hemingways casino in East London continued in terms of the R400m relicensing successfully completed in the prior year.
Chief Executive Officer Marcel von Aulock said: “We have plans, which are at an advanced stage, to invest R320m in the redevelopment of Silverstar Casino, which will include cinemas, restaurants, concert and entertainment areas and conferencing facilities to better service the West Rand market. We are also considering the redevelopment of the
Vegas sees three month’s growth
Nevada saw its third month of revenue increase in the last four months sparking belief that the gaming state is bouncing back. Financial data released by the Nevada Gaming Control Board for May showed a six per cent increase in Gross Gaming Revenue to US$855.7m up from $847.1m for the same period last year. GGR increased by 18.4 per cent in January, 5.7 per cent In February, but fell 10.8 per cent in March. Senior Research Analyst at the Nevada Gaming Control Board Michael Lawton said: “March was kind of a bump in the road. (We) got back on track this month. Next month might be a little bit different, we’ve got really tough competition for May.”
July 2012 PAGE 20
JCM GLOBAL HAS JUST RECORDED ITS most successful quarter ever; installing nearly 14,000 bill validators in just one month. The automatic transactions solutions provider is on an unprecedented winning streak, exclusively installing 10,150 units of its IVIZION bill validator and 3,750 units of its PayCheck 4 thermal printer in casinos across the country in just 30 days.
JCM installed 2,100 iVIZION bill validators at Horseshoe Casino Cleveland; 1,800 iVIZION units at Scioto Downs; 2,000 iVIZION units at Hollywood Casino Toledo; 3,700 iVIZION units and 3,200 PayCheck 4 thermal printers at Maryland Live! Casino; and 550 iVIZION bill validators and 550 Paycheck 4 printers at Oxford Casino. All of the installations took place in less than a 30-day time frame.
“Accelerated trading performance across the group’s
operations in the second half of the
year is encouraging although the
sustainability thereof is uncertain.
Nevertheless, the group remains highly cash
generative and has significant
opportunities to
invest capital in its growth strategy.” MARCEL VON AULOCK,
CEO, Tsogo Sun.
Gold Reef City Theme Park, the expansion of Suncoast Casino and the opportunity to bid for the relocation of one of the smaller casinos in the Western Cape to the Cape Metropole.”
Noteworthy were the results of Montecasino and Gold Reef City casinos in Gauteng, which recorded gaming win growth of 8.4 per cent and 11.3 per cent respectively for the year. Silverstar casino recorded a decline of 1.1 per cent for the same period; disappointing results as the casino awaits the redevelopment spend that will improve its customer offering. In KwaZulu-Natal, the Suncoast Casino and Entertainment World reflected growth of 5.8 per cent in gaming win, and Golden Horse casino and Blackrock casino reflected growth of 11.6 per cent and 13.7 per cent respectively, showing strong demand in their relevant catchment areas.
Pennsylvania leading the US gaming taxation chart
Pennsylvania is leading the way stateside when it comes to generating taxation having brought in nearly $1.5bn in taxes from its 10 gaming floors during 2011.
Richard McGarvey, spokesman for the Pennsylvania Gaming Control Board, said: “Pennsylvania leads and it's not even close. That's what happens when you have a 56 per cent tax rate in a state this big."
Nevada currently taxes at less than eight per cent tax meaning that even though its GGR of $11bn dwarfs Pennsylvania’s $3bn, Pennsylvania brings in far
more gaming tax. However, that’s not to say that the more recognised gaming states of Nevada and New Jersey don’t bring their own benefits.
The American Gaming Association claims that a lower tax rate means casinos can reinvest, creating more jobs. It points to the 174,000 casino employees in Nevada and 33,000 in New Jersey as proof that lower taxes mean more casino investment. In comparison, Pennsylvania's casino sector offers 16,000 jobs.
Pennsylvania's 2012 taxation is currently running at seven per cent ahead of 2011’s figures.
“We are absolutely thrilled with the new relationships we have developed with operators across the country and around the world. To have achieved this level of success is remarkable, and speaks to the strength of our products and our total commitment to customer service,” said JCM Global Vice President of Global Sales Mark Henderson. “Operators everywhere are seeing how iVIZION and PayCheck 4 can transform their business. And with their open-ended architecture and future- proof technology, iVIZION and PayCheck will build on their foundation and keep operators seeing green for years to come,” he added.
The iVIZION bill validator’s Contact Image Sensor (CIS) Technology captures the full image of a note or ticket, and its 99 per cent+ acceptance rate is unrivaled. PayCheck 4 is the fastest printer in the industry, printing and presenting a complete ticket twice as fast as competitive printers; has the most standard memory of any type printer; and is the longest-lasting printer in the industry, with a print head that lasts twice as long as any competitive product.
WMS GAMING HAS named Stefan Enchev as Senior Principal Sales Manager for the company’s new South American branch office in Peru. Based in Lima, Mr. Enchev has nearly a
decade of experience in the gaming industry. Most recently, he served as a member of the sales team for Casino Technology, in Sofia, Bulgaria. In his new role at WMS, Mr. Enchev will work closely with Evolution Games, the South American distributor for WMS gaming, as well support current customers, while increasing market share along the continent. Sebastian Salat, president of WMS International, said: “There is nothing more important than our customer relationships Enchev’s background in the casino industry and his commitment to providing excellent customer service, while understanding a diverse market, will benefit WMS and casino operators. We are very excited to have Enchev on our team.”
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