Alternative gaming group Niveus still hopes to sew up a deal to sell its alternative gaming assets by the end of this month – despite the proposed transaction now requiring approval by the competition authorities. At a general meeting on Thursday Niveus shareholders — other than major shareholder Hosken Consolidated Investments (HCI) – voted in favour of selling its gaming investments in the limited payout machine and electronic bingo terminal sectors to gaming and leisure company Tsogo Sun. HCI is also the biggest shareholder in Tsogo Sun, hence the company’s recusal from voting at the Niveus meeting. Earlier this week Business Day reported that the proposed transaction between Niveus and Tsogo was under threat, with the Competition Tribunal ruling that the deal must secure approval from the competition authorities. The proposed deal has already been a prolonged affair and was first mooted almost a year ago. Speaking after the meeting, Niveus chairman Johnny Copelyn said the compan...
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