CASINO SOUTH AFRICA Biggest casino operator Tsogo Sun ups stake in hotel chain 4 days ago Szarlot Post Views: 81 South Africa’s biggest casino operator Tsogo Sun Gaming (TSGJ.J) has increased its stake in City Lodge (CLHJ.J) to 10%, it said on Thursday, making it the second biggest shareholder in the leading hotel chain. Reuters had reported on Wednesday the company, through its HSS Investments and Entertainment Holdings subsidiaries, had been buying City Lodge shares since January, part of a plan to re-enter the hotel business which it left in 2019. “Tsogo Sun has taken up an approximate 10% shareholding in City Lodge,” – the company said in a statement, noting it had paid 136 million rand ($7.43 million) through subsidiaries that it did not name. City Lodge, in a separate statement, said Entertainment Holdings and HSS Investments “in aggregate, increased their collective interest in the securities of the company … to 10.0%.” Tsogo Sun, which runs the sprawling entertainment hub and casino Montecasino in Johannesburg, in 2019 divested its hotel business which was then bundled into Southern Sun (SSUJ.J), a hospitality chain in Africa, the Seychelles and Middle East. On Thursday Tsogo Sun said it has allocated additional cash for the year ending March 2024 to invest in the hospitality sector, pay dividends and reduce debt. Tsogo Sun shares on the Johannesburg Stock Exchange closed down 1.68% while City Lodge ended up 5.27%, as the broader index (.JALSH) closed up 0.73%. Source: reuters.com About Post Author Szarlot I am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry. See author's posts SzarlotI am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry. Facebook Twitter LinkedIn Email Print Tags: casino, South Africa, Tsogo Sun Continue Reading Previous Johannesburg Police Shutdown Illegal Online Gambling Shop in RandburgNext MultiChoice betting big on gambling and new payment platform in South Africa More Stories ONLINE SOUTH AFRICA Overview of online casino regulations in African governments 17 hours ago Szarlot HOT NEWS ONLINE SOUTH AFRICA MultiChoice betting big on gambling and new payment platform in South Africa 17 hours ago Szarlot EXPERTS SOUTH AFRICA Johannesburg Police Shutdown Illegal Online Gambling Shop in Randburg 7 days ago Szarlot CASINO SOUTH AFRICA Effective Tips in Playing Slot Machines 1 week ago Szarlot ONLINE SOUTH AFRICA Are Crypto Casinos a thing in South Africa? 2 weeks ago Szarlot CASINO KENYA Benefits of online versus traditional land-based casinos 2 weeks ago Samuel CASINO Fascinating casinos business 2 weeks ago Samuel CASINO NAMIBIA Crackdown on illicit slot machines in Limpopo taverns 3 weeks ago Samuel ONLINE SOUTH AFRICA What Makes a Good South African Online Casino? 3 weeks ago Szarlot EXPERTS SOUTH AFRICA Uncovering the Allure of Sports Betting in Africa 3 weeks ago Samuel CASINO Do You Know These Major Types of Online Slots 4 weeks ago MDM BETTING SOUTH AFRICA Unlikely Nations Where Horse Racing is Popular 4 weeks ago Szarlot Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.