| Thu 2 Jul 2009, 12:00 | | HCI - HCI - Conclusion of the acquisition of the Caledon Casino Hotel and Spa |
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HCI
HCI
HCI - HCI - 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
HOSKEN CONSOLIDATED INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1973/007111/06)
(Share code: HCI ISIN: ZAE000003257)
("HCI")
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
Sponsor: Investec Bank Limited
Date: 02/07/2009 12:00:03 Produced by the JSE SENS Department.
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