Data provided by McGregor BFA
All data is delayed
Loading...
See More

Grand Parade to make gambling machines

Nov 28 2012 11:50 I-Net Bridge

Company Data

GRAND PARADE INVESTMENTS LIMITED [JSE:GPL]

Last traded 5.37
Change -0.02
% Change 0.00
Cumulative volume 309450
Market cap 2.52bn

Last Updated: 23/04/2014 at 04:14. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Sun Intl, Grand Parade in new deal

Are gambling stocks worth the bet?

Sun Intl: Cosatu threats concerning

Sun International ups profit slightly

Sun International expects 100% earnings rise

Sun International Q1 revenue up 11%

 

Johannesburg - South African casino operator Grand Parade Investments [JSE:GPL] said on Wednesday it has formed a joint venture with German's Merkur Gaming to make and distribute gambling machines in South Africa.

Merkur Gaming is a wholly owned subsidiary of the family-owned Gauselmann Group.

There were no gambling machine manufacturing facilities in SA‚ though the industry contributed about R50bn to gross domestic product annually‚ Grand Parade said in a Sens statement on Wednesday.

In terms of the joint-venture agreement‚ Grand Parade and Merkur will form a new company‚ called Grand Merkur (Pty) Ltd‚ which will be registered in SA to manufacture‚ assemble and distribute slot machines‚ sports betting terminals and lottery terminals.    

The financial details of the deal were not disclosed.

 
grand parade investments
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Land reform process lawful - Zuma

The land reform process is being done according to the law and the Constitution, says President Jacob Zuma.

 
 

Latest elections multimedia

11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille
The EFF's ad was banned, see why
Why Jack Parow wants you to vote on 7 May

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...