Tsogo Sun Gaming warns of writedowns equivalent to R2bn market capitalisation
The group expects profits to fall by about a third in its year to end-March
22 May 2020 - 10:16
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...
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