The Eastern Cape Gambling and Betting Board has named Peermont Global (PTG) as the preferred bidder for the Mthatha casino licence.
 
Peermont Global's resort to be known as 'The Royal Palm Hotel, Casino and Convention Resort' will consist of a casino offering with 220 slots and 14 tables and a hotel with 40 bedrooms and restaurant facilities. The proposed capital expenditure will amount to 215 million rand. Development is expected to commence during the second quarter of 2007.
 
Styled as a modern African palatial building complex the resort will boast contemporary African interiors with all the features of a deluxe casino resort.
 
Peermont Global will hold 70% and local empowerment partners 30%.
 
Ernie Joubert, CEO of Peermont Global Resorts, commented: "We are delighted with being named the preferred bidder for the Mthatha licence. We have pursued the licence for the last three years in line with our strategy to apply for all the remaining six (now five) casino licences in South Africa. We look forward to providing patrons with a modern African themed experience sure to be popular amongst local citizens and tourists alike."
 
I-Net Bridge
Publisher: I-Net Bridge
Source: I-Net Bridge