Gaming For Africa
Casino International’s new partner is the excellent Gaming For Africa magazine, bringing you the latest developments from Africa
Eastern Cape calls for 40-LPM Slot Licences
S
outh Africa’s Eastern Cape province has issued an RFP calling for applications for what the country calls Type D slots licences - essentially LPM (Limited Payout Machine Slots) or as they are more widely-known internationally, AWPs. Type D licences are a super-sized version of the licences normally allowed for LPMs - at sites like bars, pubs and taverns, which are capped at 5 LPM slots per venue.
Sun International seeks investors for Swaziland shares
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Type D licences can best be compared to mini-casinos, as they make allowance for between 21-40 slots with limited stake and limited win. These slots, outside of legalised land-based casinos, have proven to be a bane for casino operataors, who often have had to spend millions, and in some cases billions of rands, to licence and construct Vegas-style hotel and casino resorts, whereas smaller operators can acquire gaming licences for a fraction of the cost in the LPM sector. However, the two markets are distinctly different and LPMs are designed to allow previously-disadvantaged businesss owners to own a slice of the lucrative gaming industry. Closing date is 13th November; more info can be obtained from the ECGBB website:
www.ecgbb.co.za
ollowing Sun International’s deal with MINT (Minor International) whereby Sun sold a portion of its African operations outside South Africa in 2015, the group continues to explore other opportunities looking for investors that could purchase their shares in SwaziSpa Holdings. SwaziSpa is a subisidiary of Sun International that owns and operates a number of units in Swaziland, including the iconic Royal Swazi Spa Hotel & Casino – one of the first regional cross-border casinos along with Sun City, that became tourist havens for South Africans looking to have a flutter, prior to gambling being legalised in South Africa in the late 1990s. This was disclosed by Area General Manager Lance Russouw: “Sun International Limited continues to explore other opportunities in addition to the MINT transaction for the sale of their shares in the company.” Asked to provide timelines when the transaction with Minor International Public Company Limited (MINT) which has not progressed and remains subject to the fulfillment would finally come to conclusion, Russouw said no date could be specified when the transaction would be finalised. In the financial results for the six months ended June 30, 2017 which have been reviewed but not audited by PriceWaterHouseCoopers (PwC) it was stated that the transaction with MINT had not progressed and remained subject to the fulfillment or waiver of certain conditions precedent. It has been previously disclosed by the company directors that the acquisition of some shares of Sun International by MINT was still pending. The acquisition would result in Sun International’s effective shareholding in SWAZISPA decreasing from 50.6 per cent to 10.12 per cent with MINT acquiring an effective 40.48 per cent interest in SwaziSpa. Sun International and MINT will continue to hold their respective effective interest in SWAZISPA via St Vincent Investments United. The MINT acquisition is subject to the fulfilment or waiver of certain conditions precedent inter alia the finalisation of the transaction documents.
24 SEPTEMBER 2017
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