Tag Archives: South Africa
- Casinos still king in South Africa, but sports betting’s the prince
September 7, 2017
South Africa’s gambling market continues to be dominated by its land-based casinos, but casinos were the only gaming vertical to post a revenue decline in fiscal 2017. On Thursday, South Africa’s National Gambling Board (NGB) released its annual report covering the 12 months ending March 31, 2017, in which overall...
- US$212M South African gambling monitoring contract in peril
July 13, 2017
Installing a central monitoring system in all gambling pay-out machines in South Africa may be put on hold due to questions of legality on the issuance of the multi-billion rand contract. Business Day reported that the R2.8 billion (US$212 million) contract to be issued by South Africa’s National Gambling Board...
- Sun International increases stake in LatAm’s Sun Dreams entity
May 31, 2017
Sun International has raised its stake in Chilean casino group Sun Dreams as the South African casino and hotel operator zeroes in on the Latin American market. The JSE-listed hotel and casino group announced that its subsidiary, Sun Latam, and fellow stakeholder Nueva Inversiones Pacifico Sur Limitada will buy out...
- South Africa makes good on vow to seize online gambling winnings
May 28, 2017
South African authorities are making good on their vow to confiscate the winnings of gamblers who play on unauthorized online gambling sites. Last year, South Africa released its new National Gambling Amendment Bill, which seeks to amend the National Gambling Act 2004 to reinforce prohibitions against online gambling anywhere except...
- Acquisitions fuel Tsogo Sun core profit
May 26, 2017
South African hotel and casino operator Tsogo Sun Holdings Ltd.’s full-year profit jumped 11 percent on the back of recent acquisitions, including a controlling stake in Hospitality Property Fund. For the fiscal year ending March 31, Tsogo Sun announced that its earnings before interest, tax, depreciation, amortization (EBITDA) grew to...
- Sun International ditches dividend payout after full-year profit falls
March 28, 2017
In a bid to conserve capital, South Africa’s casino and hotel operator Sun International has scrapped its interim dividend as the company reported a drop in its full-year profit. Sun International is scheduled to open the R4.2 billion (US$340 million) Time Square casino in April. Time Square, which is the...
Casinos still king in South Africa, but sports betting’s the prince
September 7, 2017
South Africa to confiscate illegal online gambling winnings
October 4, 2016
Sun International to acquire four Peruvian gaming operations
October 13, 2017