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Tsogo Sun Holdings  // Browsing posts in Tsogo Sun Holdings

24 May 2017 Tsogo Sun Holdings

TSOGO BUOYED BY PROFIT RISE

Cape Town – South African hotel, gaming and entertainment group, Tsogo Sun says it expects to complete the building of its 125 room Stay Easy hotel in Maputo in the current financial year for $16 million as it is buoyed by a 6 percent rise in profits for the year ended March. The company says, […]

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23 Mar 2017 Tsogo Sun Holdings

TSOGO SUN PLANS TO TRANSFER MORE HOTEL ASSETS

And to lift stake in Hospitality Reit to better compete with property rivals. JOHANNESBURG – South African hotelier Tsogo Sun said it could increase its stake in Hospitality Property Fund to as much as 60% as part of an exchange if it reaches agreement to sell more hotel assets to the fund. Tsogo Sun acquired […]

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HOSKEN, TSOGO DEALS HEATS UP

Johannesburg – Empowerment conglomerate Hosken Consolidated Investment (HCI) on Tuesday said it was a step closer to consolidating its gaming assets under Tsogo Sun in a R2.1 billion deal that would see the hotel and entertainment group take over Niveus Investments gaming machine and bingo hall businesses. The deal would see Tsogo acquire all Niveus […]

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NIVEUS WINS WIDER TERMS FROM TSOGO

Casino group gives more options to minorities in gaming asset buyout. Casino group Tsogo Sun and Niveus Investments, both controlled by Hosken Consolidated Investments (HCI), decided on Tuesday to rejig the terms of a recent R4.6bn transaction involving alternative gaming assets. In late 2016, Niveus accepted a scrip-based offer for its limited payout machine (LPM) […]

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6 Mar 2017 Tsogo Sun Holdings

TSOGO SUN’S NEW DUAL-BRAND HOTEL DEVELOPMENT ENTERING INTO ITS FINAL STAGES

Tsogo Sun’s new dual-brand 19-story hotel development in Cape Town is entering its final stages with construction expected to be completed by September 2017. The two hotels will add 504 rooms to the Cape Town tourism market. Constructed at a cost of R700 million, the development – which consists of the SunSquare Cape Town City […]

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14 Feb 2017 Tsogo Sun Holdings

DOES TSOGO SUN PLAN TO BEEF UP HPF PORTFOLIO?

Tsogo Sun has become a leading player in SA’s hotel industry, owning some of the most sought-after hospitality assets in the country. It recently bought a stake in SA’s only hotel Real Estate Investment Trust (Reit), the Hospitality Property Fund (HPF). The question is how does Tsogo plan to make its investment in HPF a […]

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13 Feb 2017 Tsogo Sun Holdings

A R3.3bn OFFER FOR TSOGO ASSETS

Pretoria – Listed Hospitality Property Fund has entered into negotiations with Tsogo Sun Holdings on the potential acquisition of a R3.3billion portfolio of hotel assets from the listed hotel and gaming group. The group said it was preparing to raise about R1.8bn through a rights issue. Keith Randall, the chief executive of Hospitality, confirmed on […]

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TSOGO SUN GOES GREEN

Embracing greener behaviour for the wellbeing of the planet is a hallmark of Tsogo Sun’s and is written into the group’s overriding environmental management policy. Tsogo Sun is now creating awareness and educating stakeholders on greener living. Candy Tothill, Tsogo Sun’s GM of corporate affairs, says that green thinking permeates throughout the business. “We’re extremely […]

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BRIEF-TSOGO BUYS SOME GAMING BUSINESSES FROM NIVEUS INVESTMENTS

* Acquisition of certain gaming businesses from Niveus Investments Limited * Niveus accepted indicative offer for Niveus’ interests in Vukani Gaming Proprietary Ltd and Galaxy Bingo Proprietary Ltd * Says purchase consideration will comprise of 160 million ordinary shares in issued share capital of Tsogo amounting to about 4.65 bln rand * Purchase consideration will […]

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8 Dec 2016 Tsogo Sun Holdings

TAXMAN WINS BIG AT CASINOS

Cape Town – And the casino industry’s biggest winner for the 2016/17 tax year is [insert drum roll here please…] the taxman! The 11th annual survey from the Casino Association of South Africa (CASA), which was released on Wednesday, found that the South African Receiver of Revenue scooped up 36 percent of gross gambling revenues […]

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