Hotels and casino merger blocked

Peermont owns 60% of the Grand Palm Hotel and Casino
Peermont owns 60% of the Grand Palm Hotel and Casino

The proposed P9 billion takeover of gaming and hotel company, Peermont Group by JSE-listed resort hotel group Sun International has been blocked by the competition watchdog of South Africa.

The deal, which would have resulted in Sun taking over Peermont’s Grand Palm hotel, Mondior, Metcourt Inn and the casinos including the one at Sedibeng hotel in Botswana, had already been given a conditional greenlight in Botswana.

In a recommendation to its tribunal, the Competition Commission of South Africa yesterday blocked the deal saying it will prevent decreasing competition in an already concentrated market.

Editor's Comment
Batswana need to do better to stop FMD

It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...

Have a Story? Send Us a tip
arrow up