4as4en1ce

S outh African casino operators such as Tsogo Sun and Sun International are quietly pushing the government to pass legislation allowing online casinos to operate alongside the already legalized and regulated online sports betting industry. They are hoping that the hard work put into the 2008 National Gambling Amendment Act to formally legalize. SunBreaks Summer 2020. SunBreaks Summer 2020, it’s time for a long-awaited family vacay with Tsogo Sun Hotels. SunBreaks Summer 2020, Learn More. The original plan, worth R2.1 billion, would have seen Tsogo Sun Holdings purchase a 40% stake in SunWest and Worcester Casino, both subsidiaries of Sun International, both which run Western Cape based casinos. SunWest runs the popular Cape Town GrandWest Casino, while the Golden Valley Casino is run by Worcester Casino.

Revenue for the six months ended 30 September fell to ZAR1.57bn (£77.8m/€85.9m/$101.9m), with gaming revenue making up the vast majority of the total. Tsogo Sun’s casino, gaming and bingo halls businesses contributed revenue of ZAR1.46bn, down 70.9%.

This decline was due to much of the gaming business being shuttered as a result of South Africa’s lockdown in the first quarter, though casinos began to reopen from 1 July, and contributed ZAR1.15bn of the total.
Its Galaxy Bingo chain was reopened in phases between July and September, and saw revenue fall 75.1% to ZAR117m in H1, while 95% of the gaming machine business had been reopened by the period end, though revenue declined to ZAR294m. The operator reported a further ZAR3m in other gaming revenue.

The biggest year-on-year decline was recorded for the operator’s food and beverage business, for which revenue plummeted 93.6% to ZAR21m. Tsogo Sun noted that its restaurant partners were struggling, and receiving state aid, and while there had been an increase in sales, this lagged far behind prior year levels.

Despite 14 of its 17 hotels having reopened, revenue for the division was down 91.2% to ZAR22m, and other revenue, from its entertainment facilities such as cinemas and theme parks, was dropped to just ZAR17m. Other income came to ZAR41m.

Earnings before interest, tax, depreciation and amortisation also dropped significantly, to ZAR191m, and once depreciation and amortisation were factored in to revenue-related costs, operating expenses were down 65.4% at ZAR1.37bn.

This meant Tsogo Sun swung to an operating loss for the half year, of ZAR263m, compared to a ZAR1.52bn profit in the six months to 30 September 2019.

Tsogo Sun Jobs

After financial items, pre-tax loss came to ZAR764m, though the net loss for the year was reduced by a ZAR197m income tax benefit, to ZAR567m, compared to a ZAR1.26bn profit for the prior year.

Despite a difficult first half, the operator said October’s trading was encouraging, that being the first full month in which the country’s curfew had been relaxed. It added that with costs lowered, only essential capital expenditure and no planned dividends, it was confident that it could continue to reduce debt over the coming 12 months. Its debt currently stands at ZAR11.80bn.

South African casino operator Tsogo Sun has focused on internet gambling as a lifeline as the country continues to suffer a total lockdown in face of the Covid-19 pandemic, reports Gaming for Africa.

The company has urged the South African government to think again on its current attitude towards casinos, keeping them closed in Level 4 of its lockdown. It has assured the authorities that the industry is equipped to handle the safe reopening of its venues.

The company lost an estimated €21m in revenue as a result of the pandemic, it reports in its first quarter results, ending March 31. CEO Chris du Toit said that the company was at an advanced stage of moving into online sports betting and online gaming generally was a ‘natural progresson’ for the business.

In the full-year results revenue rose 1 per cent to ZAR11.69bn (€607.8m) of which gaming revenue the majority. Its Galaxy Bingo hall chain saws revenue grow 10 per cent to ZAR856m (€46.5m) and the revenue of LPMs (limited payout machines in street locations) was up 7 per cent to ZAR1.7bn (€91m).

Operating profit fell 67 per cnet to ZAR1.0bn (€52m). After financial items, the company fell into a pre-tax loss of ZAR205m (€10.6m).

Said du Toit: “The business is ready, with a robust strategy of enhanced hygiene and safety measures to enable a seamless re-opening to our loyal customers.” Once this happens, the operator said it was confident that it could return to profitability rapidly, by reducing cost structure, with a more efficient casino business a particular focus.

Tsogo Sun Hotels Durban

Much of this return to growth will be driven by technology, Tsogo Sun continued. Du Toit said it would step up efforts to leverage smartphone penetration to allow for better interactions with customers, as well as through offering its products via these devices.

Sun Online Mv

“We are also in an advanced stage of entering the online betting industry which is a separate segment of the market,” he explained. Furthermore, online casino would then be a “natural progression”.

All Star Slots is a 5-reel virtual slot machine designed for soccer fans all around the world. Player could expect 1000 credits as initial deposit. You have plenty of chances winning your free and bonus spins, just check out the Payout table. A combination of 2 shoes and 2 soccer balls can give. The bonus is available star drifter slot machine free download before you deposit funds into your account. The no deposit bonus is very popular star drifter slot machine free download among players because it gives them the chance to try out their favorite casino games for real money without spending from their bankroll. Star drifter slot machine free download.