28 Nov 2012

Grand Parade to make gambling machines

I-Net Bridge

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.

We live in a world where facts and fiction get blurred

Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.

Join News24 today

description

username

Show Comments ()