Gaming shares: Good odds on casino move?
Who will be the big winner if the law is changed to allow Cape Town to have a second casino licence?
The Cape Town casino market could soon be dealt a new hand, with gaming giants Sun International and Tsogo Sun betting on very different outcomes. Changes have been on the cards since 2013, but a final decision seems imminent regarding the Western Cape government’s proposal to amend legislation to allow the transfer of an existing provincial casino licence to the Cape Town metropolitan area. At the moment Sun’s GrandWest casino in Goodwood is enjoying an extended period of exclusivity (its official exclusivity period ended in 2013) in Cape Town. After a prolonged period of stasis, the proposal for a second casino licence for the city was put back on the table in February this year when a notice was placed in the Government Gazette. Initially the Western Cape government wanted comment about the proposal before the end of June 2018, but this deadline was extended to the end of this month. The development of a new Cape Town casino could realistically be as far as three or four years aw...
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