Johannesburg - Tsogo Sun has bought supplier of limited payout machines, Vukani Gaming, and operator of electronic bingo terminals, Galaxy Bingo, from Niveus for about R4.65 billion, Tsogo said on Wednesday.Tsogo and Niveus are subsidiaries of Hosken Consolidation Investment (HCI).
“The proposed transaction restructures HCI’s gaming operations under one vehicle, Tsogo.
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"The proposed transaction simplifies the HCI group structure and provides investors with a single entry point for gaming exposure,” Tsogo said.
The hotel, gaming and entertainment group said the transaction was subject to, among others, a due investigation on the gaming businesses, including a review of earnings for the year to next March.