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South African Company May Discard Gambling Assets

16 April 2004

CAPE TOWN, South Africa – As reported by the South Africa Business Day: "Moribo Leisure is looking at several opportunities, including the possibility of selling certain investments and making a distribution to shareholders.

"…Moribo, which listed 10 years ago, spent a long time gearing up to pitch for the national lottery contract, and had to end its scratchcard operations after it failed to win the contract.

"It also tried to find a foothold in limited payout machines. But after long delays by government in launching the industry it sold its limited-payout machine sites last year. Its remaining asset is a stake in a company that provides network infrastructure to the lottery, but this is a limited license…"

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