Close

Not a member yet? Register now and get started.

lock and key

Sign in to your account.

Account Login

Forgot your password?

CONCLUSION OF THE ACQUISITION OF THE CALEDON CASINO, HOTEL AND SPA AND CENTURY CASINO NEWCASTLE BY HCI`S 38% HELD SUBSIDIARY, TOSGO SUN GAMING (PTY) LIMITED

Conclusion of the acquisition of the Caledon Casino, Hotel and Spa and Century Casino Newcastle by  HCI`s 38% held subsidiary, Tsogo Sun Gaming (Pty) Ltd (“transaction”)

Further to the announcement by HCI on the Stock Exchange News Service (“SENS”) on 22 December 2008, shareholders  of  HCI  are  advised that  Tsogo  Sun Gaming  (Pty) Limited,  a  wholly  owned subsidiary of Tsogo Sun  Holdings (Pty) Limited (“Tsogo Sun” or “the Group”), in which HCI has an effective 38% interest, has concluded the transaction with Century Resorts  Limited and Winlen Casino Operators (Pty) Limited, for the acquisition  of two  South African operations, namely 100% of the Caledon  Casino, Hotel,  Spa  in  the Western Cape and 100% of the  Century  Casino Newcastle  in KwaZulu-Natal, and assumed operational control of the casinos with effect from 30 June 2009.

The transaction has been approved by the Western Cape Gambling and Racing Board, the South Africa Reserve Bank and the Competition Tribunal. The approval of the KwaZulu-Natal Gambling Board remains outstanding, however this requirement has been waived as a condition president to the transaction by Tsogo Sun.

The  inclusion of these operations in the Tsogo Sun portfolio provides additional  geographic  diversity  and  representation  in casino  and hotel operations for the Group in markets not currently serviced  by the existing Tsogo Sun Gaming and Southern  Sun  Hotel businesses.  Tsogo Sun now owns and operates seven casinos directly and has a financial interest in  an additional  seven  casino  operations via  the  its 23% stake in Gold Reef Resorts, and a portfolio of 86  hotels  in  8 countries, with an additional three hotels  under construction.

Cape Town

2 July 2009