Sun International to buy Peermont and its flagship Emperors Palace
Acquisition of group’s 11 properties and online betting brand will more than double Sun International debt
Casino, gaming and hotel group Sun International is set to buy the Peermont Group and its flagship Emperors Palace resort in Kempton Park for R7.3bn, which it believes will provide it with a “unique opportunity to acquire the world-class and highly cash generative Peermont business”.
The company, valued at about R10.7bn on the JSE, said in Monday’s announcement that 62.54% of its shareholders have provided support for the proposed deal in writing, but the deal remains subject to approval...
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