Tsogo Sun

Last updated

Tsogo Sun
TSG
Industry Hospitality, Entertainment, Tourism
Founded1995
SuccessorTsogo Sun
Headquarters
Johannesburg
,
South Africa
Number of locations
15 Casinos, 16 Hotels, 24 Galaxy Bingo sites
Area served
South Africa
Key people
 Chris Du Toit (CEO)
BrandsMontecasino, Suncoast Casino, Gold Reef City Casino, Gold Reef City Theme Park, Silverstar Casino, Golden Horse Casino, The Ridge Casino, Emnotweni Casino, Blackrock Casino, Goldfields Casino, Mykonos Casino, the Caledon Casino, Garden Route Casino, Hemingways Casino, Palazzo Hotel, the Pivot Hotel Montecasino, Piazza Hotel Montecasino, Hotel Perte Montecasino, Gold Reef City Hotel, Gold Reef City Theme Park Hotel, Silverstar Hotel, Golden Horse Hotel, Suncoast Hotel, Suncoast Towers, Blackrock Hotel, Garden Route Hotel, The Caledon Hotel & Spa, The Ridge Hotel, The RidgePoint Hotel, Hemingways Hotel, playTSOGO, bet.co.za, The Marco Polo Gaming in Sandton, Oasis Casino, Galaxy Bingo, VSlots
Serviceshospitality, leisure, gaming and entertainment [1]
Website tsogosun.com

Tsogo Sun is a South African gaming, hotels and entertainment group. Tsogo Sun operates 15 casinos, 24 Galaxy Bingo sites, 1 Independent Site Operator Licence (ISO) as well as VSlots ("LPMs") Limited Pay-out Machines across nine provinces, including but not limited to Bet.co.za bookmaker licences, hotels, a Theme Park, theatres, movie cinemas, restaurants, bars and conference facilities. [2] [3] [4]

Contents

Tsogo Sun means 'resurrection' or 'new life' – a term that mimics the daily rising of the sun in Setswana. [5]

Ownership

Prior to 2011, Tsogo Sun Holdings owned and operated two divisions: Southern Sun Hotel Interests and Tsogo Sun. On 24 February 2011, Tsogo Sun Holdings concluded a merger with and reverse listing through Gold Reef Resorts. [6]

The group was one of the largest Johannesburg Stock Exchange listed companies in the hotel and tourism sector with a market capitalisation of R30.8 billion. [7] [8] Since the unbundling [9] of its business into separate hotels and gaming interests in June 2019, Southern Sun and Tsogo Sun have been listed separately on the JSE. Tsogo Sun (TSG [10] ) and Tsogo Sun Hotels (TGO [11] trading as Southern Sun) are both owned by Hosken Consolidated Investments (47%) [12] and public shares. [13]

History

Palazzo Hotel Montecasino, Fourways Johannesburg Palazzo Hotel Montecasino.jpg
Palazzo Hotel Montecasino, Fourways Johannesburg

The group was established in 1969, when hotelier Sol Kerzner founded the chain of Southern Sun Hotels in partnership with South African Breweries. [14]

Prior to 1994, the group's gambling operations were limited to those hotels located in Apartheid era bantustans, as gambling in the rest of South Africa was heavily restricted. When the new democratic government came to power, gambling was legalised, which enabled the group to add 14 gaming destinations to its portfolio. [15]

Through a process of bid applications, the group acquired five casino licences: Emnotweni (Nelspruit), The Ridge, Hemingways, Montecasino and Suncoast. [16]

An additional two casinos, The Caledon and Blackrock (formerly known as Century Casino), were added to the group's portfolio in 2009 through the acquisition of Century Resorts Limited and Winlen Casino Operators (Pty) Limited. Subsequently, a further seven casinos were added to the portfolio through the reverse buy-out of Gold Reef Resorts in 2011: Gold Reef City, Silverstar, Queens, Mykonos, Goldfields, Golden Horse and Garden Route. [17] [18] [19]

In May 2014, the group announced that it had entered into transaction agreements resulting in Tsogo Sun acquiring a 40% equity interest each in SunWest International and Worcester Casinos. This transaction gave the group a stake in all five casinos located in the Western Cape. [20]

As of 1 June 2017 [21] the Tsogo Sun CEO was Jacques Booysen. [22] Jacques Booysen previously served as managing director of Gaming at Tsogo Sun Holdings since April 2007. [23]

The group notified shareholders on 15 March 2019 [24] of a proposed restructuring that would result in a separation of hotel and gaming interests and separate JSE listing [25] of Tsogo Sun Hotels and Tsogo Sun Gaming.

As of 12 June 2019 Tsogo Sun was split into Tsogo Sun and Tsogo Sun Hotels. Tsogo Sun Hotels (now Southern Sun) includes individually branded hotels such as the luxury Beverly Hills and Palazzo as well as hotel brands that include Southern Sun Hotels, Garden Court, SunSquare and Hi Hotels. [26] [27]

Tsogo Sun Gaming includes casinos precincts such as Montecasino and Gold Reef City as well as ownership of Galaxy Bingo [28] that operates 23 bingo venues across South Africa and V Slots [29] a leading supplier of Limited Pay Out slot machines. In 2020 Tsogo Sun Gaming acquired a majority ownership of South African sports betting website Bet.co.za. [2]

Related Research Articles

<span class="mw-page-title-main">MGM Resorts International</span> Hotel and entertainment company

MGM Resorts International is an American global hospitality and entertainment company operating destination resorts in Las Vegas, Massachusetts, Michigan, Mississippi, Maryland, Ohio, and New Jersey, including Bellagio, Mandalay Bay, MGM Grand, and Park MGM.

<span class="mw-page-title-main">South African Breweries</span> Brewing company based in Johannesburg, South Africa

South African Breweries is a major brewery headquartered in Johannesburg, South Africa and was a wholly owned subsidiary of SABMiller until its interests were sold to Anheuser-Busch InBev on 10 October 2016. South African Breweries is now a direct subsidiary of Anheuser-Busch InBev SA/NV.

<span class="mw-page-title-main">SABMiller</span> Multinational brewing and beverage company

SABMiller plc was a South African multinational brewing and beverage company headquartered in Woking, England on the outskirts of London until 10 October 2016 when it was acquired by AB InBev. Prior to that date, it was the world's second-largest brewer measured by revenues and was also a major bottler of Coca-Cola. Its brands included Foster's, Miller, and Pilsner Urquell. It operated in 80 countries worldwide and in 2009 sold around 21 billion litres of beverages. Since 10 October 2016, SABMiller is a business division of AB InBev, a Belgian multinational corporation with headquarters in Leuven.

<span class="mw-page-title-main">The Rank Group</span> Gambling company

The Rank Group is a gambling company based in the United Kingdom. Rank was involved in the cinema and motion picture industry until 2006, and continues to use the Gongman logo originally used by the Rank Organisation's film distribution subsidiary General Film Distributors. Its brands now include Mecca Bingo, and Grosvenor Casinos, the UK's largest casino operator.

<span class="mw-page-title-main">Ladbrokes Coral</span> British-based betting and gambling company

Ladbrokes Coral is a British gambling company founded in 1886. Its product offering includes sports betting, online casino, online poker, and online bingo. The Ladbrokes portion of the group was established in 1886, and Coral in 1926. In November 2016, the companies merged to create Ladbrokes Coral Group. Since March 2018, it has been owned by Entain. Prior to its sale, Ladbrokes Coral was listed on the London Stock Exchange, and was a member of the FTSE 250 Index.

<span class="mw-page-title-main">Gala Bingo</span> British casino company

Gala Bingo is an online bingo and casino offering under the ownership of Entain.

<span class="mw-page-title-main">888 Holdings</span> British online gambling company

888 Holdings plc, formerly Virtual Holdings Limited, is an international sports betting and gambling company. It owns brands such as 888casino, 888poker, 888sport, Mr Green, and William Hill. Business operations are led from its headquarters in Gibraltar, alongside satellite offices in Bucharest, Ceuta, Leeds, London, Malta, Sofia, and Tel Aviv. It is listed on the London Stock Exchange.

Playtech plc is a gambling software development company founded in 1999. The company provides software for online casinos, online poker rooms, online bingo games, online sports betting, scratch games, mobile gaming, live dealer games and fixed-odds arcade games online. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

<span class="mw-page-title-main">Montecasino</span> Casino complex in South Africa

Montecasino, popularly shortened to Monte, is a leisure and casino complex in Fourways, Sandton in Gauteng, South Africa. It was designed by American company Creative Kingdom Inc. and built by South African architects Bentel Associates International at a cost of R1.6 billion. It first opened its doors on 30 November 2000 and it currently attracts over 9.3 million visitors annually. It is themed after Monte Cassino. It has been designed to replicate an ancient Tuscan village. The main casino building has a fake sky, painted on the ceiling, inside going from light on one side to dark at the other.

Sun InternationalGroup is a South African gaming and hospitality company founded by Sol Kerzner. The Group owns diverse assets including the iconic Sun City Resort near Rustenburg in the North West Province, The Table Bay Hotel in Cape Town, and online gaming platform, SunBet.co.za. Specialising in gaming, hospitality and entertainment, the company owns 42.5% of the South African casino market and owns or holds a significant interest in 11 out of 38 operating casinos in South Africa. Sun International Hotels is headquartered in Sandton, Johannesburg. It was incorporated in South Africa in 1967.

<span class="mw-page-title-main">Southern Sun Hotels</span> South African multinational hospitality company

Southern Sun is a South African multinational hospitality company headquartered in Johannesburg, South Africa and listed on the Johannesburg Stock Exchange (JSE). The group was founded in 1969 by hotelier Sol Kerzner and South African Breweries. Between 2012 and April 2022 the group was known as Tsogo Sun. Southern Sun owns and operates over 90 hotels in South Africa, Zambia, Mozambique, Seychelles, and the Middle East. In addition to hotels, the group operates conferencing venues including Sandton Convention Centre in Sandton, food and beverage outlets, and spas.

<span class="mw-page-title-main">Crown Resorts</span> Australian gambling and hospitality company

Crown Resorts Limited is Australia's largest gaming and entertainment group that owns and operates three of Australia's leading gambling and entertainment complexes, Crown Melbourne, Crown Perth and Crown Sydney. It was listed on the Australian Securities Exchange until purchased by Blackstone in June 2022.

Gambling in South Africa has been heavily restricted since 1673, with South Africa's Gambling Act of 1965 officially banning all forms of gambling except betting on horse racing which existed as a sporting activity.

<span class="mw-page-title-main">Sky Betting & Gaming</span> British-based gambling company

Sky Betting & Gaming is a British-based gambling company, owned by Flutter Entertainment, with headquarters in Leeds, West Yorkshire and offices in Sheffield & Solihull. Sky Betting & Gaming consists of five core brands: Sky Bet, Sky Vegas, Sky Casino, Sky Poker and Sky Bingo.

Metropolitan Gaming is a British gaming company that operates eleven casinos in the United Kingdom and Egypt. It is owned by Silver Point Capital. The casinos began as part of Grand Metropolitan, and later became an independent company, London Clubs International. From 2006 to 2021, they were owned by Harrah's Entertainment and then Caesars Entertainment.

<span class="mw-page-title-main">Kindred Group</span> Online gambling company

Kindred Group is an online gambling operator which consists of nine brands, among them Unibet, Maria Casino and 32Red. The Group offer products such as online casino, online poker, online bingo, and sports betting. The company is registered in Malta, but also has major hub offices in Gibraltar, London, Stockholm and the US in addition to smaller satellite offices across Europe and Australia. Kindred Group is a publicly listed company on the Stockholm Stock Exchange (Nasdaq). In 2017, the company's revenue was GBP 751.4 million.

<span class="mw-page-title-main">Bede Gaming</span> Software company in United Kingdom

Bede Gaming is a gambling platform and software company based in Newcastle upon Tyne, England, with offices in London, England and Sofia, Bulgaria. It supplies gambling platforms and software to online casinos, online bingo operators, and lotteries in regulated markets. The platform handles more than £3 billion of wagers per year.

Entain plc, formerly GVC Holdings, is an international sports betting and gambling company. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. It owns brands such as bwin, Coral, Ladbrokes, PartyPoker and Sportingbet.

Emerald Resort & Casino is a hotel and casino located at a private estate on the banks of the Vaal River in Vanderbijlpark, South Africa. The casino opened in 1997.

<span class="mw-page-title-main">Bet.co.za</span> South African betting website

Bet.co.za is a South African sports betting and entertainment company founded 2010. Bet.co.za offers online betting odds on soccer/football, horse racing, rugby, cricket, tennis, and other sports. Other types of games are offered, including Bet Vegas, Bet Games, Bet Spins (slots), and Lucky Numbers betting. Bet.co.za also operates Bet Central, a publisher of sports news and betting tips.

References

  1. ↑ Nicole Cassandra Naidoo (16 July 2014). "Participation essential for Tsogo Sun shareholders". CNBC Africa. Archived from the original on 4 March 2016. Retrieved 26 November 2014.
  2. 1 2 "Tsogo Sun to acquire betting platform Betcoza". BusinessLIVE. Retrieved 25 July 2022.
  3. ↑ "Tsogo Sun buys Vukani, Galaxy | IOL Business Report". iol.co.za. Retrieved 27 September 2019.
  4. ↑ "Tsogo Sun boosted by gaming alternatives". BusinessLIVE. Retrieved 27 September 2019.
  5. ↑ Esipisu, Isaac (18 October 2013). "Top executive jobs at Tsogo Sun cut". CNBC Africa. Archived from the original on 24 March 2018. Retrieved 26 November 2014.
  6. ↑ Matthew Boyle; Kamlesh Bhuckory; Chris Spillane (7 July 2014). "SABMiller to Sell $1.09 Billion Stake in Tsogo Sun". Bloomberg News . Retrieved 26 November 2014.
  7. ↑ Andreas Paleit; Nick Wilson (7 July 2014). "SABMiller to sell out of African hotel and casino group Tsogo Sun". Financial Times . Retrieved 6 December 2014.
  8. ↑ Clementine Fletcher (15 April 2014). "SABMiller Mulls Options for $1.04 Billion Tsogo Sun Stake". Bloomberg L.P. Retrieved 14 December 2014.
  9. ↑ "Tsogo Sun plans hotel listing on 12 June". Fin24. 23 May 2019. Retrieved 27 September 2019.
  10. ↑ "Tsogo Sun Gaming Ltd, TSG:JNB summary – FT.com". markets.ft.com. Retrieved 27 September 2019.
  11. ↑ "Tsogo Sun Hotels Ltd, TGO:JNB summary – FT.com". markets.ft.com. Retrieved 27 September 2019.
  12. ↑ "Business Segments". www.hci.co.za. 7 January 2016. Archived from the original on 6 December 2021. Retrieved 30 May 2023.
  13. ↑ "Investors | Tsogo Sun Hotels". Tsogo Sun. Retrieved 27 September 2019.
  14. ↑ Thomas, Nathalie (7 July 2014). "SABMiller sheds final remnant of former conglomerate days". The Daily Telegraph . London. Retrieved 26 November 2014.
  15. ↑ David S. Fick (2000). Rule, Stephen P.; Sibanyoni, Chris (eds.). The Social Impact of Gambling in South Africa: An Initial Assessment for the National Gambling Board. HSRC Press. p. 52. ISBN   9780796919717 . Retrieved 26 November 2014.
  16. ↑ AbdouMaliq Simone (2008). Nuttall, Sarah; Mbembe, Achille (eds.). Johannesburg: The Elusive Metropolis. Duke University Press. ISBN   9780822381211 . Retrieved 26 November 2014.
  17. ↑ Baumann, Julius (6 August 2012). "Gaming groups oppose new Cape Town casino". Business Day . Retrieved 26 November 2014.
  18. ↑ Hasenfuss, Mark (21 November 2014). "Tsogo Sun places bet on growing casinos". Business Day . Retrieved 27 November 2014.
  19. ↑ Staff reporter (18 February 2010). "Merger creates major SA gaming, hotel company". Mail & Guardian . Retrieved 27 November 2014.
  20. ↑ Farhaanah Mahomed (13 May 2014). "Tsogo Sun acquires a stake in two casino businesses". CNBC Africa . Retrieved 26 November 2014.
  21. ↑ "Executive Directors – Tsogo Sun Board". Tsogo Sun. Retrieved 13 July 2017.
  22. ↑ Tsogo Sun gets new CEO. http://www.iol.co.za/business-report/companies/tsogo-sun-gets-new-ceo-9443365. Amended 13 July 2017
  23. ↑ Jacques Booysen: Executive Profile & Biography – Bloomberg https://www.bloomberg.com/research/stocks/people/person.asp?personId=52595771&privcapId=13514301. Amended 13 July 2017
  24. ↑ "Tsogo Sun to restructure hotel interests". Fin24. 15 March 2019. Retrieved 30 May 2019.
  25. ↑ "Tsogo Sun will bring the largest hotel business in SA to public investors". BusinessLIVE. Retrieved 30 May 2019.
  26. ↑ "Tsogo Sun Launches Budget Brand". Etnw. Retrieved 27 September 2019.
  27. ↑ "New low-cost 'limited service' hotels to launch in South Africa". businesstech.co.za. Retrieved 27 September 2019.
  28. ↑ "Galaxy Bingo – Gaming. Entertainment". Galaxy Bingo. Retrieved 27 September 2019.
  29. ↑ "VSlots" . Retrieved 27 September 2019.


This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.