Visitors are seen at the entrance of Gold Reef City and casino which is owned by Tsogo Sun, in Johannesburg
Johannesburg – Tsogo Sun Holdings has appointed company veteran Jacques Booysen as the chief executive of South Africa’s biggest hotel and casino operator.

This comes after Marcel von Aulock resigned.

Booysen has been promoted from his role as head of the gaming division, the owner of Montecasino and Gold Reef City said in a statement after the market closed on Tuesday.

He will start as chief executive on July 1.

Tsogo did not provide a reason for the resignation of Von Aulock, who has led the company for six years.

The chief executive change comes as the company battles a downturn in gaming activity amid weak economic growth and political uncertainty.

Read also: Tsogo Sun expecting higher earnings

The shares declined 0.4 percent to R24.50, extending the fall for the year to 11 percent. That values the company at R26 billion.