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Tsogo Sun and Sun Overseas Cancel Casino Deal

Tsogo Sun and Sun Overseas Cancel Casino Deal Tsogo Sun Holdings, a major South hotel that is african casino operator, announced on Friday that it had canceled its plans to buy a minority stake in 2 gambling enterprises operated by rival Sun Overseas. The R2.1 million purchase deal was initially established in May 2014. In those days, Tsogo Sun stated that it was interested in purchasing a 40per cent stake in Sun Overseas’s subsidiaries SunWest, which runs GrandWest Casino, and Worcester Casino, which runs Golden Valley Casino. Both gambling properties can be found on the territory of the Western Cape province. Tsogo playpokiesfree.com Sun was to find the 40per cent stake from Sun Overseas and Grand Parade Investments. To be more exact, the gambling operator would be to purchase a 25.1% stake in the two gambling enterprises from Grand Parade Investments for the total amount of R1.55 billion, and a 14.9% one from Sun Overseas for the total amount of R635 million. Currently, there are five casinos in the territory of the Western Cape province. Two of the would be the above-mentioned venues operated by Sun International while the other three are owned and run by Tsogo Sun. Earlier in 2010, your competition Commission of South Africa suggested to the country’s Competition Tribunal that the acquisition deal involving the two major gambling operators is avoided from being completed. Officials voiced issues that when Tsogo Sun purchased the 2 casinos, this would bring about competition in the area being blunted. In addition they pointed towards the proven fact that the coordination between Tsogo Sun and Sun Global would sooner or...