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Sun International Casino to Open Soon

2 Nov 2004

CAPE TOWN, South Africa – As reported by the South Africa Business Day: "Sun International said yesterday it would be opening its new casino, hotel, conference and dining complex, the R727m Sibiya Casino and Entertainment Kingdom near Durban, on November 19.

"The group, which has stakes in several other casino and hotel developments, such as Sun City in Gauteng and GrandWest near Cape Town, also announced at the weekend that it would be helping to finance the Mbizana Development Trust to buy a stake in Transun, which owns the Wild Coast Sun on the south coast.

"Sun International will sell a 30% stake in Transun to the Mbizana trust for R25,5m by way of a special purpose vehicle. The trust will also participate in management fees.

"…Sibiya will replace the temporary Sugarmill Casino, which has been operating for more than two years.

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