Current casino license expires in nine years

Sun International subsidy scraps development in South Africa

Casino developer Emfuleni Resorts (Pty) Ltd has decided to abandon its plan for a mixed-use development, which included a casino, on vacant land in Port Elizabeth, South Africa adjoining the Boardwalk Precinct.
2016-07-05
Reading time 42 seg
Casino developer Emfuleni Resorts (Pty) Ltd has decided to abandon its plan for a mixed-use development, which included a casino, on vacant land in Port Elizabeth, South Africa adjoining the Boardwalk Precinct.

The decision by the Summerstrand, South Africa-based subsidy of Sun International Ltd. (SUI:SJ), was made after a condition of their plan, the extension of the Boardwalk’s casino license, was not issued by the Eastern Cape Gambling and Betting Board. The current casino license expires in nine years and amendment of its 15-year term for an additional 20 years by the Gambling Board would have given the investors security to go forward with their development plans, according to InterGame.

The development would have created 8,500 jobs and included a retail shopping mall and an events and entertainment venue. In addition, a 2,000sq.m Magic Company FEC, with cinemas, laser tag, and tenpin bowling, was also part of the plan for the location.

Had the ZAR1.3bn (€80m) development plan come to fruition, it would have been the city’s largest single investment in hospitality and tourism to date.

Related topics:
Leave your comment
Subscribe to our newsletter
Enter your email to receive the latest news
By entering your email address, you agree to Yogonet's Terms of use and Privacy Policies. You understand Yogonet may use your address to send updates and marketing emails. Use the Unsubscribe link in those emails to opt out at any time.
Unsubscribe
EVENTS CALENDAR