GAMING FOR AFRICA
Sun International Cuts Losses and Liquidates Swazi Casino
South African casino and hotel group Sun International has reported its half-year headline loss has shrunk to R7-million ($475,104), and that it has placed its Eswatini operation into liquidation after not being able to pay creditors. The travel and leisure sector is showing signs
of slight recovery as South Africans have started booking domestic trips rather than foreign travel, and visiting casinos again. However curfew hours, restrictions on serving alcohol and limited demand from international business and leisure travel into the country prevented a meaningful recovery. South Africa’s slow COVID-19 vaccination roll-out has also weighed on demand. The group, which runs the Sun City resort and
high-end hotels The Maslow Sandton and The Table Bay, reported an adjusted headline loss of R885-million in the prior year. Adjusted earnings before interest, tax,
depreciation and amortization from continuing operations increased to R739-million from R60-million rand, Sun International said. Casino income, its biggest revenue generator,
rose by 53% to R2.3-billion despite low footfall due to a lack of shows, concerts and general entertainment at its casino complexes. Income at the resorts and hospitality
operations rose by 21%, while alternate gaming, which includes sports betting, jumped
Royal Swazi Spa, Resort & Casino has been placed in liquidation, closing the doors on this iconic African casino
by 97% as international sports resumed. Overall group income from continuing operations rose by 51% to R3.8-billion rand. Sun International has been looking to exit
Eswatini, formally known as Swaziland, since 2016, but had been waiting for final regulatory approvals from the King to sell its 51% stake in Swazispa. Hurt by lockdowns and not being able to
obtain additional funding from shareholders, Swazispa was unable to pay its creditors and its liabilities exceeded its assets, forcing it to be placed into final liquidation, the firm said. “We couldn’t get the deal done and didn’t
have any money to continue operating it. So we can’t keep it anymore,” Group Chief Executive Anthony Leeming told Reuters. ($1 = 14.7336 rand at time of conversion)
Cola Launches African Cryptocurrency for Gamblers
Cola Holding has announced the development of their own cryptocurrency which is connected to the gambling platform currently being rolled out across various markets internationally. Placing an emphasis particularly on the continent of Latin America and Africa, and gambling licenses already obtained in Kenya, Zambia, Ethiopia, and Curacao, the company is finalizing licences for an additional 7 more African countries, with more nations currently in the final stages of legal and market research evaluation. The mission of Cola Holding is to obtain several gambling licenses worldwide and explore opportunities in Argentina, North America, and more. With staking, repurchasing, speculation and gambling possible directly on the platform, the
availability of Cola Coin will grant players unparalleled access to local as well as international fixed odds betting and casino gambling. Cola Holding enables players to enjoy gambling products while simultaneously eliminating the hassles of currency exchanges and complicated payment methods. Cola Coin is currently in the process of being listed on various exchanges. The ambitious growth strategy for Cola Holding
acknowledges the limitations of the current COVID-19 climate internationally, while also recognizing the expansion of land-based services as a means for people to interact via online, mobile, and cash solutions for gambling more than ever before. The current objective involves capturing substantial market share through the operation of their own gambling platform through licensing gambling companies and then distributing the software as a white-label solution through Cola Coin, which will be offered to other operators. The move expands access to previously unavailable wealthy players across several regions of the world where gambling is an obstacle or impossible, due to a host of reasons.
Tanzania’s Palm Beach Casino Expands with New Casino Floor and VIP Area
TCSJOHNHUXLEY is proud to have been involved in the expansion project of Palm Beach Casino’s gaming floor and would like to congratulate the management team on the magnificent opening event that took place on 18 September. This new extension to the swanky casino located
in Dar-es-Salaam, Tanzania, includes a main floor and an exclusive VIP area, that has been furnished with newly designed custom gaming tables and all new gaming equipment, ready to be enjoyed in a luxuriously styled setting.
From Left to Right: Werner Coetzee (TCSJH), Dan Zvonaru and Costa Giannakopoulos (Palm Beach Casino), Christiaan Els (TCSJH)
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