Johannesburg - Shares of Gold Reef Resorts
[JSE:GDF] have jumped 3.6% to R18.60, adding to a 6.9% gain on Friday, when competition authorities said the casino company would not have to sell a major asset before a planned merger.
South Africa’s antitrust investigator initially recommended that Gold Reef sell its Silverstar Casino before merging with unlisted Tsogo Sun.
However, the Competition Tribunal, which decides on such recommendations, on Friday granted the deal unconditional approval.