Western Cape Business News

Send  Share  RSS  Twitter  05 Sep 2011

GAMBLING: Grand Parade's Gauteng Gamble


Recent Western Cape Business News

Thuo Gaming Gauteng, a subsidiary of Cape Town-based Grand Parade Investments Limited, has secured the first Type-B (40 machine) Limited Payout Slot Machine (LPM) licence in Gauteng.

Trading as Grand Gaming in Gauteng, the Type B licence will enable the company to install up to 40 machines at the Royal Park Hotel in Leyds Street, Joubert Park.

We are delighted to be the first LPM operator in Gauteng to receive a Type B licence,” says GPI Executive Chairman, Hassen Adams. “This will allow us to accelerate our roll-out of machines in the province to reach our stated goal of acquiring a similar market leadership position in Gauteng as we have enjoyed in the Western Cape and KwaZulu-Natal for some time.”

GPI has always made clear its vision of becoming a major and respected force in the gaming and leisure industry in Africa, and its subsidiaries Grandslots and Kingdomslots jointly  operate more than 1 500 LPMs in the Western Cape and KwaZulu-Natal respectively. Growth in Gauteng is key to its plans to increase its network to 5 000 LPMs in the medium term.

Grand Gaming is currently one of five licensed LPM route operators in Gauteng, and at the end of August was operating 164 machines out of just over 1,000 which are currently operational in the province.

In the three months since acquiring Playmeter Leisure Services (Pty) Ltd in a deal that gave the company a licence to operate 1 000 LPMs in Gauteng, Grand Gaming has increased its number of operational machines in the province by 45%, this will jump to 81% subsequent to the activation of the 40 that have now been allocated to the Royal Park Hotel.

In addition to its direct investment in the sites in which its LPMs are available for play, Grand Gaming is also creating additional jobs, and will contribute 0.1% of its Gross Gaming Revenue (GGR) to the National Responsible Gambling Programme. Furthermore, it will also allocate up to 5% of its pre-tax profits to a corporate social investment programme.

GPI is committed to the responsible and efficient management of a quality network of limited payout machines in Gauteng,” says Adams. “This means operating a business which is able to advance the public interest, and those of our shareholders, by maximising the economic and social benefits for those communities in which we will be active”.

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