Tag Archives: Sun International
Chile – Pacifico agrees to buy Sun International’s entire stake in Sun Dreams
Chile’s Nueva Inversiones Pacifico Sur Limitada has reached a settlement with Latin American casino operator Sun Dreams and will now buy the entire stake held by Sun International’s subsidiary, Sun Latam. Pacifico has agreed to buy a 64.94 per cent stake in casino operator Sun Dreams for $160m from South African partner Sun International to…
South Africa – Sun International begins to reopen some of its properties
Sun International’s urban casinos are reopening in South Africa with restricted tables and slot machine capacities, and with physical shields installed between slot machines and between seats at gaming tables. Every second slot machine has been disabled to ensure appropriate physical distancing between guests on the casino floor. Safety measures include temperature tests conducted at…
South Africa – Sun International rejects approach from Chilean investors for 50.1 per cent stake
Sun International, the owner of South Africa’s Sun City resort, has rejected an offer for a 50.1 per cent stake in its business, from Chilean investment firm Nueva Inversiones Pacifico Sur (IPS), which would have increased its shareholding from 22 per cent. Sun International’s second biggest shareholder, Value Capital Partners (VCP) opposed the bid from…
South Africa – Sun slammed as ‘reckless and irresponsible’ for two permanent closures
Sun International has closed two of its casinos permanently with Carousel Casino in the North West and Naledi Sun Hotel and Casino in Thaba Nchu not reopening once the current lockdown ends. Both casinos have experienced escalating costs and falling revenues over the past few years. This, coupled with the economic effects of the shutdown,…
South Africa – South African casino magnate Sol Kerzner dies of cancer
Sol Kerzner, often refereed to as ‘the Sun King’ for founding South African casino and hotel group Sun International, has died of cancer surrounded by his family at his home in Cape Town. Having founded the country’s two largest hotel groups, Southern Sun and Sun International, Mr. Kerzner went on to create casinos and hotels…
South Africa – Online betting drives Sun International’s growth
Sun International reported income growth of four per cent and an increase in EBITDAR of one per cent for its full year with the company’s online betting doing particularly well. The company’s online betting arm SunBet saw an increase of 82 per cent increase with Sun Slots increasing by 13 per cent. Sun International CE…
Chile – Merger between Sun Dreams and Marina del Sol is on hold
Sun International’s proposed merger of its Chile-based casino company Sun Dreams with the assets of Marina del Sol has been put on ice after the companies couldn’t reach agreement on a memorandum of understanding. Sun International confirmed that they had failed to conclude the proposed merger by the deadline of October 31. “The parties have…
Chile – Chilean company increases ownership in Sun Dreams to 50 per cent
Chilean company Nueva Inversiones PacÃfico Sur has signed a contract with South African company Sun International to acquire 15 per cent of the ownership of the Sun Dreams casino and hotel chain, an operation that will allow them to increase their participation to 50 per cent. “The finalisation of the operation is subject to the…
South Africa – Western Cape operators warn that without exclusivity jobs will fall
Casino operators in South Africa’s Western Cape has said that with exclusivity laws expiring and casinos being planned for new regions, revenue could be seriously impacted and ultimately cost the industry jobs. The Draft Western Cape Nineteenth Gambling and Racing Amendment Bill, 2018, would update the Western Cape Gambling and Racing Act, 1996 (Act 4…
