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Gauteng gamblers coin it

Dec 08 2010 06:17
Amanda Visser

Company Data

TSOGO SUN HOLDINGS LIMITED [JSE:TSH]

Last traded 22
Change 0
% Change 0
Cumulative volume 389340
Market cap 0

Last Updated: 08-02-2016 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Hearing on Tsogo, Gold Reef merger

More nods for Gold Reef, Tsogo merger

 

Pretoria  - The payout ratio at Gauteng casinos is the highest in the country, the Competition Tribunal heard this week.

It is currently considering evidence over the proposed merger of Tsogo Sun and Gold Reef Resorts [JSE:GDF].

The transaction will mean that Tsogo Sun will manage three casinos in Gauteng – Montecasino, Silverstar and Gold Reef City.

In his evidence at the hearing, Leon Kok of Peermont, which owns Emperors Palace, says the payout ratio at Emperors Palace is the highest of all its casinos in the country.

The Gauteng Gambling Council requires a minimum ratio of 80 – 20, which means that if a gambler spends R100, he can expect to get R80 back.

But Kok says in Gauteng, casinos’ payout ratio is much higher than in the rest of SA. This is to give gamblers a more enjoyable “experience”.

Earlier the Competition Commission recommended that the transaction should be allowed to go ahead – if the new group sells its Silverstar casino in Krugersdorp.

The tribunal hearing continues.

- Sake24

For business news in Afrikaans, go to
Sake24.com.

gold reef resorts  |  tsogo sun  |  gambling

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