Reports SOUTH AFRICA MARKET
Tere are 41 casino licences available and 39 operational with a total of 24,781 slots and 932 gaming tables (2019 data). Tsogo Sun has 13 casinos followed by Sun International with 13 casinos, Peermont Group with eight casinos and London Clubs, Northern Cape Casino Consultants, Galaxy Bingo (Tsogo), Eastern Cape Consortium and Billion Group with one casino each.
Financial results released in March 2020 for the financial year 2019 saw an increase in South African income by two per cent to R11.5bn. Tis is 67 per cent of the company’s total income. Time Square is Sun International’s latest facility and houses 1,730 slots and 61 table games with an 8,500 seat arena and 238 room hotel.
At the end of April this year, Sun International announced it would not re-open its Carousel Casino in the North West and Naledi Sun Hotel in Free State due to rising costs and falling revenues escalated by economic effects of the shutdown due to CV19.
Sun International investors are currently mulling a bid from Chilean Investment company, Nueva Inversiones Pacifico Sur, to acquire a 50.1 per cent controlling stake in the business. While there has been push back from shareholders, the offer includes short-term liquidity as the company has been forced to cut salaries and lay-off staff. Sun Int. also announced it’s planning a R1.2bn rights offer.
Te other large operator is Tsogo Sun which operates 13 casinos in six provinces in South Africa with a total of 9,465 slots and 357 table games plus 23 Galaxy Bingo sites (including 17 bingo sites with EBTs, four sites with EBTs and LPMs and one independent site operator with 40 LPMs and one casino) and 1,144 LPM VSlots sites and over 6,000 LPM machines.
Machines under management include 3,507 EBTs, 200 LPMs and 162 casino gaming positions. Te company also has a total of 153 hotels with more than 24,900 rooms in Africa, UAE and the UK. Tsogo Sun has a 38 per cent share of the casino market in the six provinces in which it operates and 42 per cent share nationally. Total income for the gaming sector for Tsogo Sun last year was R11.6bn of which R9bn was from the 13 casinos; Galaxy Bingo saw an income of R855m (R263m in 2018) and VSlots with R1.55bn (R543m in 2018).
In a statement March 27 2020, Tsogo Sun Gaming’s CEO Chris du Toit said: “We applaud President Ramaphosa on the swift and decisive action taken to flatten the curve on the spread of Covid-19 virus. We ask all customers to remain patient during the period of disruption to our business. Tsogo Sun Gaming will be back strongly.”
P68 NEWSWIRE / INTERACTIVE / MARKET DATA
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