- April 9, 2013
- Posted by: admin
- Category: Tsogo Sun Holdings
Tsogo Sun has announced significant expansion plans for its Silverstar, Gold Reef City and Montecasino operations in Gauteng, following approval by the Gauteng Gambling Board (GGB).
A minimum of R750-million would be invested in capital expenditure for the expansion and redevelopment of the Silverstar casino and the refurbishment and expansion of the Gold Reef City Casino and Theme Park.
These developments were expected to be completed in the next two years and would result in the creation of at least 400 new permanent job opportunities, excluding outsourced operations such as tenanted restaurants and support services, which would create over 4 000 construction jobs during the development period.
In cognisance of this capital commitment and the additional investments made at Montecasino of over R1-billion between 2007 to 2010, the GGB had approved an overall increase of 1 500 gaming positions across the three casinos to be rolled out in the medium term, which should address any future capacity issues in these markets.
The Silverstar casino would be redeveloped to create a variety of additional dining options, as well as an outdoor events area, allowing the complex to host live concerts and events.
Additional entertainment offerings would include cinemas, a ten-pin bowling alley and laser tag games, as well as an expanded and enhanced casino floor and parking.
Gold Reef City would also see the expansion of its casino offering, as well as the introduction of cinemas and additional restaurants at the casino.
In addition, the Gold Reef City Theme Park would receive additional food and beverage outlets, improved access systems and an improved linkage to the casino complex.
In terms of the various applications approved by the GGB, Tsogo Sun had made an amount of R150-million available to be spent on charitable or social infrastructure developments in the Gauteng province, to be selected and administered by the GGB.
Tsogo Sun CEO Marcel von Aulock said the group was delighted that the GGB had seen the value offered to the province through these additional developments and was committed to expanding each of the operations to their full potential.
“Tsogo has a track record of successful investment at Montecasino, which will continue and, having bedded down the Gold Reef merger, we are looking forward to enhancing the operations at Silverstar and Gold Reef City,” he commented.
GGB chairperson Bally Chuene added that the developments were job-creating investment activities and, in addition to the employment created, would generate strong tax revenues for the provincial and national governments.
Source: Creamer News – NAtalie Greve edited by Chanel de Bruyn