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Peermont Global Plans Casino

1 September 2004

SOUTH AFRICA – As reported by the South Africa Business Day: "Cape Town Casino and hotel operator Peermont Global expects an "exciting" six months to December as it plans to list on the JSE Securities Exchange SA this month, revise the empowerment structure of its East Rand business, and build a new casino .

"CEO Ernie Joubert said yesterday that he expected growth to continue.

"…Peermont has a 62 % economic interest in Caesar's Gauteng, 100% of Graceland in Mpumulanga, and 60% of the Grand Palm in Gaborone, Botswana. Peermont, formerly known as Global Resorts, is also developing a resort in Bethlehem, Free State.

"…Joubert said the group would be increasing capacity at Caesar's Gauteng after reaching an agreement with Emerald Safari Resorts to add 140 slot machines and 17 gaming tables at Caesar's, while Emerald Safari relinquishes its rights to operate the same number. This overcomes constraints on the number of slot machines and tables allowed in the province, and has been conditionally approved by the Gauteng Gambling Board.

"…Peermont had reached agreement to acquire Inciticorp, which held the licence to develop and operate a casino resort in Bethlehem, Joubert said…"

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