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Johannesburg - Sun Holdings has agreed to buy Century Casinos Africa for R460m, I-Net Bridge, a news agency, has learned.
A statement posted this week on the website of the Nasdaq-listed casino entertainment firm Century Casinos said that Tsogo Sun Holdings is buying the properties via its unit Tsogo Sun Gaming.
Tsogo Sun Holdings, which owns and operates casinos and hotel resorts across southern Africa, is owned by Hosken Consolidated Investments (HCI) and brewing giant SABMiller (SAB).
The transaction is expected to be completed by the first half of next year.
Century Casinos Africa owns and operates the Caledon Hotel, Spa and Casino near Cape Town, as well as 60% of Century Casino Newcastle in Newcastle.
It reported an average annual consolidated earnings before interest, tax and depreciation of R54m over the last three years.
- I-Net Bridge