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PTG
PTG
Peermont Global - Peermont Global lands Mthatha casino licence
Peermont Global Limited
(Incorporated in the Republic of South Africa)
(Registration number 1995/0004449/06)
Share Code: PTG
ISIN: ZAE000058053
("Peermont Global")
PEERMONT GLOBAL LANDS MTHATHA CASINO LICENCE
The Eastern Cape Gambling and Betting Board has named Peermont Global as
the preferred bidder for the Mthatha casino licence.
Peermont Global"s resort to be known as `The Royal Palm Hotel, Casino and
Convention Resort" will consist of a casino offering with 220 slots and 14
tables and a hotel with 40 bedrooms and restaurant facilities. The proposed
capital expenditure will amount to R215 million. Development is expected to
commence during the second quarter of 2007.
Styled as a modern African palatial building complex the resort will boast
contemporary African interiors with all the features of a deluxe casino
resort.
Peermont Global will hold 70% and local empowerment partners 30%.
Ernie Joubert, CEO of Peermont Global Resorts, commented: "We are delighted
with being named the preferred bidder for the Mthatha licence. We have
pursued the licence for the last three years in line with our strategy to
apply for all the remaining six (now five) casino licences in South Africa.
We look forward to providing patrons with a modern African themed
experience sure to be popular amongst local citizens and tourists alike."
Bryanston
7 November 2006
Enquiries:
Peermont Global 011 267 9200
Ernie Joubert, Managing Director 011 267 9207
Ronel Engelbrecht 011 267 9269
College Hill 011 447 3030
Johannes van Niekerk 082 921 9110
Louise Brugman 083 504 1186
Background information on Peermont Global Limited:
Peermont Global Limited is a South African-based company with an excellent
track record in the design, development, management and operation of multi-
faceted integrated resorts, which include hotels, casinos, convention
centres, retail centres, restaurants, bars and other sport and
entertainment facilities. The group has a strong market position in South
Africa and Botswana, where it has an ownership interest in, and management
responsibility for, three integrated resorts. These are Emperors Palace
Hotel Casino and Convention Resort in Johannesburg, Graceland Hotel Casino
and Country Club in Secunda, and the Grand Palm Hotel Casino and Convention
Resort in Gaborone, Botswana, as well as the recently-acquired Tusk resorts
in Empangeni, Taung, Klerkdorp, Thohoyandou and Mmabatho The group also has
an ownership interest in, and management responsibility for, two hotels in
Botswana, namely the Mondior Summit in Gaborone and the Metcourt Lodge in
Francistown, and the Mondazur Resort Estate Hotel at San Lameer, KwaZulu
Natal, South Africa.
Date: 07/11/2006 11:10:25 AM Produced by the JSE SENS Department
