Tsogo Sun and Sun Overseas Consider New Western Cape Casino Deal
South African gambling operators Tsogo Sun and Sun Overseas have revived plans for Western Cape casino ownership reshuffle. Tsogo Sun has revealed that it would buy a 20% stake in 2 Sun Overseas subsidiaries that operate gambling enterprises in the Western Cape.
Final summer, the 2 companies canceled a deal, underneath the terms of which Tsogo Sun could have compensated R2.1 billion for a stake in two Western Cape gambling venues GrandWest Casino and Golden Valley Casino, owned by its rival Sun Global. Following an investigation by the relevant regulators, the country’s Competition Commission recommended that your competition Tribunal prohibit the offer. If, nonetheless, the deal was indeed finished, Tsogo Sun would have had impact in all five gambling enterprises running into the Western Cape.
Less than a year following the two gambling businesses abandoned the deal, they are now likely to materialize another, less ambitious, concept. Tsogo Sun has announced it is to shop for a 20% stake in Sun Overseas’s subsidiaries SunWest Global and Worcester Casino. The company is spend the amount of R1.3 billion.
Hence, Sun Overseas would stay static in possession of a controlling stake within the two organizations and would also allow for its partner Grand Parade Investments to remain active in the South gambling industry that is african. People who have knowledge of the problem recommended that the proposed deal would be categorized as being a non-notifiable, meaning that it is really not apt to be examined by competition authorities. Continue reading “Tsogo Sun and Sun Overseas Consider New Western Cape Casino Deal”