South Africa-based casino operator Sun International is bidding goodbye to its chief executive officer Graeme Stephens after accepting a job offer at SKYCITY Entertainment Group in New Zealand.
CNBC Africa reported that Stephens is set to leave Sun International at the end of April 2017 after his three year stint in the gaming, hospitality, and entertainment group. Graeme will be succeeded by the casino group’s Chief Financial Officer Anthony Leeming.
Valli Moosa, Chairman of Sun International, said the company has been satisfied with how Stephens restructured and managed the business.
Under Stephens’ watch, Moosa pointed out that Sun was able to acquire controlling interest in GPI slots and has essentially exited from its non-core African assets to focus on those in South Africa. He said the flagship Sun City resort has been redeveloped and strategies are well advanced for Sibaya, Carnival City, GrandWest and Boardwalk.
“The major focus and initiative currently underway is the construction of Time Square at Menlyn Maine and this is on track for the casino to open in early April 2017. Given the significance of this investment we take comfort from Graeme’s commitment to stay until end April to help ensure a smooth opening,” he said.
Sun International was also successful in its expansion into the Latin American gaming market during Stephens’ tenure, according to Moosa.
“The merger with Dreams has been achieved, and Sun International now has a controlling interest in the largest gaming group in Latam (Latin America). The current pipeline of strategic opportunities in that region has been established, with the executive team in Latam directly responsible for implementation,” he said.
Following the announcement of Stephens’ departure, SKYCITY announced the appointment of the outgoing Sun International official as its new Chief Executive Officer. SKYCITY is a casino and event center.
Stephens will replace Nigel Morrison, who resigned in April 2016. He is expected to start in May 1, 2017.
SKYCITY Chairman Chris Moller says he is delighted to have secured a CEO with the gaming, hospitality and strategic leadership credentials of Mr Stephens, to take the company through an exciting new phase of development.
“Graeme has extensive experience in developing and opening world-class casinos, hotels and resorts. He has deep expertise in the gaming, hospitality, and leisure industries. His record managing a diverse and fast-growing listed company, operating in a variety of locations, makes Graeme the best person to lead SKYCITY as we progress the New Zealand International Convention Centre and Hobson Street hotel projects, redevelop our Adelaide Casino and plan the next stage of SKYCITY’s strategy,” Mr Moller said, according to Scoop.co.nz.
