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Johnnic Holdings Seeks South African Investment Opportunities

JOHANNESBURG, South Africa – Reuters: "South African casino and hotel group Johnnic Holdings, which spun off its media interests earlier this year, is actively seeking further investment opportunities, including a stake in top gaming group Tsogo Investment Holdings, the firm said on Thursday.

"Reporting a near 1,000 percent surge in headline earnings per share, Johnnic said it hoped to successfully conclude talks which could lead to an investment in Tsogo Investment Holdings in the current year.

"…Tsogo Investment Holdings has a 51 percent stake in hotels and gaming group Tsogo Sun Holding Ltd as well as owning a string of hotels.

"Johnnic currently owns Suncoast Casino and the Gallagher Estate conference and hotel centre outside Johannesburg as well as already holding an effective 9.7 pct stake in Tsogo Sun Holdings Ltd and 28.5 percent of Tsogo Sun Kwazulu Natal…"

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