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Tag Archives: Tsogo Sun

South Africa – Tsogo Sun welcomes lifting of travel ban after devastating first half

South African casino and hotel group Tsogo Sun Hotels has welcomed the relaxation of international travel, warning that whilst it did not envisage an improvement in its results in the short term, and that it could be forced to axe jobs, the relaxation would provide relief to the tourism sector. The operator suffered a loss…

South Africa – Tsogo Sun buys into online sports betting platform Betcoza

Tsogo Sun Gaming has, through its wholly owned subsidiary, Tsogo Sun Alternative Gaming, bought a a 50.1 per cent interest in the Betcoza online sports betting platform from Niveus Investments for R49m. The Betcoza business is licensed to operate an online betting platform. The retail sports betting licences operate in Gauteng and Limpopo. Tsogo said:…

South Africa – Tsogo Sun hopeful online gambling will soon prop business up

South African gambling group Tsogo Sun Gaming reported a 67 per cent drop in operating profit for the year to end of March, despite only shutting its operations on March 25, following an announcement by President Cyril Ramaphosa. With operating profit down 67 per cent to R1bn, and earnings per share falling 87 per cent,…

South Africa – Tsogo Sun to float assets after splitting hotels from casinos

South African operator Tsogo Sun is in the process of unbundling its casino and hotel interests, prior to listing the holding company THL on June 12. The ‘unbundling’ aims to ‘unlock value’for its shareholders. The company said: “In terms of the unbundling, Tsogo Sun will distribute its entire holding of THL Shares to its shareholders…

South Africa – TCS John Huxley creates Burlesque tables for Tsogo Sun

When long standing customer Tsogo Sun decided to refurbish its Salon Prive at its Emnotweni Casino, Nelspruit, Mpumalanga, South Africa, TCS John Huxley was delighted to be invited to design a series of tables for the refreshed gaming space. With spectacular views across the Lowveld and Botanical Gardens, the new gaming tables needed to be…

South Africa – Tsogo Sun polishes its Durban crown with Suncoast relaunch

South African casino group Tsogo Sun has been polishing one of the jewels in its crown by investing R1.6bn in revamping its Suncoast hotels and casino complex on Durban’s Golden Mile. The property, first opened in 2002, has been expanded and refurbished over the last two years with a relaunch just before Christmas. Its footprint…

South Africa – Tsogo Sun cancels sale of seven casino hotels

Shareholders in South African casino operator Tsogo Sun have opposed plans to sell seven casinos and hotels to the Hospitality Property Fund for $1.72 bn. Tsogo stated: “At the reconvened General Meeting held November 12, shareholders were advised that following engagement with certain Tsogo investors it had become apparent that the Transaction and the Unbundling…

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…

South Africa – Tsogo Sun reshuffles its pack

South African casino operator Tsogo Sun is reshuffling its pack by selling seven of its casino and hotel businesses to Hospitality Property Fund (HPF) in a shares-and-subscription deal worth R23bn. The deal will see Tsogo Sun own around 87 per cent of the shares in Hospitality Property Fund. The board said the move was in…