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2015  // Posts published in 2015

17 Dec 2015 Tsogo Sun Holdings

TSOGO SUN FORMALISES HOSPITALITY SHARE DEAL

HOTEL and gaming group Tsogo Sun has formalised an agreement to take control of Hospitality Property Fund, creating a real estate investment trust (Reit) with assets worth about R6.8bn. Hospitality will acquire 10 hotel properties, valued at almost R1.8bn, from Southern Sun Hotels, a wholly owned subsidiary of Tsogo. The purchase consideration will be settled […]

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15 Dec 2015 Tsogo Sun Holdings

CASINO OPERATORS GAMBLE ON BETTER TOURIST NUMBERS

CASINO operators are betting billions that tourism is about to pick up from the doldrums caused by visa regulations and other woes. Projects include Sun International’s R3.6bn Menlyn, Pretoria, shopping centre, which is tied to its Morula Sun gambling licence. “We looked at Pretoria and noticed that there were no five-star hotels — we are […]

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8 Dec 2015 Tsogo Sun Holdings

HOSPITALITY SHARE SWAP TAKES FLAK

TWO minority shareholders have urged Hospitality Property Fund to sweeten the share swap deal that forms part of its turnaround strategy, saying its failure to do so could jeopardise the company’s future. Grindrod Asset Management chief investment officer Ian Anderson and Steyn Capital Management voiced their concerns on Monday that the existing share swap deal […]

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27 Nov 2015 Media & Broadcasting

e.tv EXTENDS HD OFFERING TO INCLUDE DSTV CUSTOMERS

From Friday, 27 November 2015, e.tv will be the first free to air channel available in High Definition (HD) across all DStv packages. The eHD Channel, which was exclusively available on OpenView HD (Channel 104), will now also be enjoyed by DStv customers (Channel 194). DStv customers who have HD decoders will be able to […]

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24 Nov 2015 Tsogo Sun Holdings

STEYN HEDGE FUND OBJECTS TO HOSPITALITY PROPERTY FIND SHARE SWAP

Hedge fund Steyn Capital Management and freight operator Grindrod said they object to the terms of a planned share conversion to prepare South African hotelier Hospitality Property Fund for takeover by casino owner Tsogo Sun Holdings. Investors have been offered 3.5 Class-B shares in Hospitality for each Class-A share they hold in the Johannesburg-traded company, […]

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24 Nov 2015 Tsogo Sun Holdings

GOLD REEF CITY: BIGGER AND BETTER

The R630 million refurbishment has seen the property being elevated to a diverse and world-class entertainment destination. JOHANNESBURG – Gold Reef City, a tourist attraction characterised by a unique combination of entertainment, has been relaunched following a multi-million rand refurbishment by Tsogo Sun. The relaunch event took place on November 19 and was attended by […]

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21 Nov 2015 Tsogo Sun Holdings

A PIECE OF PARADISE ON THE VAAL

I recall visiting another resort in the Vaal a few years ago and thinking it was at the ends of the earth. When I drove to Tsogo Sun’s Riverside Hotel a few weeks ago to check out their R50m refurbishment after the hotel reopened its doors to the public two months ago, I was surprised […]

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20 Nov 2015 Tsogo Sun Holdings

GOLD REEF CITY REVAMP

Gold Reef City casino and its theme park have been revamped and expanded into a world-class entertainment destination. Tsogo Sun, the listed hotel and casino operator celebrated the refurbishment with Jozi’s celebrities, key media, and leaders of the gaming and hospitality industry. Actress Nomzamo Mbatha, radio personality Bob Mabena, Lorna Maseko and Loyiso Bala were […]

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20 Nov 2015 Tsogo Sun Holdings

FUN PARK FIGHTS FOR ITS FUTURE

Glitz and glam were the order of the night at the unveiling of Gold Reef City’s $32 million refurbishment. This is part of the $72 million that gaming and hotel giant, Tsogo Sun, set aside for revamping its properties. Tsogo Sun took over Gold Reef City in 2011. Tsogo Sun’s CEO, Marcel Von Aulock, expects […]

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20 Nov 2015 Tsogo Sun Holdings

HOPES FOR UPTICK IN SPENDING DRIVE TSOGO SUN

GAMING and hotel giant Tsogo Sun is still betting big on a consumer spending upturn, investing R1bn on revamping its properties and on new opportunities in the half-year to end-September. Tsogo reported on Thursday a 7% increase in turnover to R5.9bn with adjusted headline earnings coming in 9% higher at 88c per share. The interim […]

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