The share price of casino operator Tsogo Sun Gaming was at a record low on Friday, after it warned it has seen writedowns about equivalent to its R2bn market capitalisation in its year to end-March.

The group said in a trading update it had seen writedowns of  intangibles of R1.9bn, writedowns of property, plant and equipment and right-of-use assets of R105m, and fair value losses on investment properties of R81m, without going into further detail...