CASINO SOUTH AFRICA Biggest casino operator Tsogo Sun ups stake in hotel chain 10 months ago Szarlot Post Views: 449 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 SOFTSWISS unveils South African iGaming market overview 23 hours ago Samuel ONLINE SOUTH AFRICA WA.Technology Unveils Next-Gen iGaming Solutions at BiG Africa Summit 2024 5 days ago Szarlot CASINO UGANDA Kampala`s Underworld in Casinos 6 days ago Szarlot EXPERTS SOUTH AFRICA SiGMA Africa 2024: Reshaping South Africa’s igaming landscape 7 days ago Samuel EXPERTS SOUTH AFRICA SiGMA Africa 2024: Explore SiGMA’s Cape Town summit 1 week ago Iwo Bulski EXPERTS SOUTH AFRICA EGT Digital to showcase slots, instant games and betting platform in SIGMA Africa 1 week ago Iwo Bulski EXPERTS SOUTH AFRICA SiGMA Africa’s second edition set to take place in Cape Town in March 2 weeks ago Iwo Bulski BETTING SOUTH AFRICA Navigating the vibrant world of online sports betting in Africa 3 weeks ago Szarlot ONLINE SOUTH AFRICA Exploring the surge in SA’s online betting market 3 weeks ago Samuel ONLINE SOUTH AFRICA Is it time for South Africa to properly regulate online casinos? 3 weeks ago Samuel CASINO EXPERTS Do People Actually Win Money Playing Slots? 3 weeks ago Szarlot ONLINE SOUTH AFRICA SA Gaming to unveil its latest products at SiGMA Africa 2024 3 weeks ago Iwo Bulski 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.