Tsogo Sun is a South African hotel, gaming and entertainment group. As of 12 June 2019, Tsogo Sun split into Tsogo Sun Hotels and . Tsogo Sun Hotels has over 100 hotels in South Africa, Seychelles and the Middle East, a number of restaurants and bars, and conferencing and banqueting facilities including the Sandton Convention Centre. Tsogo Sun Gaming has 13 gaming and entertainment destinations as well as ownership of Galaxy Bingo and V Slots. Tsogo Sun means 'resurrection' or 'new life' – a term that mimics the daily rising of the sun in Setswana.
Ownership
Prior to 2011, Tsogo Sun Holdings owned and operated two divisions: Southern Sun Hotel Interests and Tsogo Sun Gaming. On 24 February 2011, Tsogo Sun Holdings concluded a merger with and reverse listing through Gold Reef Resorts. Tsogo Sun's key institutional shareholder is Old Mutual Investment Group Limited ; 10.33% of shares held by top holders. The group was one of the largest Johannesburg Stock Exchangelisted companies in the hotel and tourism sector with a market capitalisation of R30.8 billion. Since the unbundling of its business into separate hotels and gaming interests in June 2019, Tsogo Sun Hotels and Tsogo Sun Gaming have been listed separately on the JSE. Tsogo Sun Gaming and Tsogo Sun Hotels are both owned by Hosken Consolidated Investments and public shares.
History
The group was established in 1969, when hotelier Sol Kerzner founded the chain of Southern Sun Hotels in partnership with South African Breweries. Prior to 1994, the group's operations were limited to hotels as gambling in South Africa was heavily restricted. When the new democratic government came to power, gambling was legalised, which enabled the group to add 14 gaming destinations to its portfolio. Through a process of bid applications, the group acquired five casino licences: Emnotweni, The Ridge, Hemingways, Montecasino and Suncoast. An additional two casinos, The Caledon and Blackrock, were added to the group's portfolio in 2009 through the acquisition of Century Resorts Limited and Winlen Casino Operators Limited. Subsequently a further seven casinos were added to the portfolio through the reverse buy-out of Gold Reef Resorts in 2011: Gold Reef City, Silverstar, Queens, Mykonos, Goldfields, Golden Horse and Garden Route. In May 2014, the group announced that it had entered into transaction agreements resulting in Tsogo Sun acquiring a 40% equity interest each in SunWest International and Worcester Casinos. This transaction will give the group a stake in all five casinos located in the Western Cape. As of 1 June 2017 the Tsogo Sun CEO is Jacques Booysen. Jacques Booysen previously served as managing director of Gaming at Tsogo Sun Holdings since April 2007. The group notified shareholders on 15 March 2019 of a proposed restructuring that would result in a separation of hotel and gaming interests and separate JSE listing of Tsogo Sun Hotels and Tsogo Sun Gaming. As of June 12, 2019 Tsogo Sun was split into Tsogo Sun Gaming and Tsogo Sun Hotels. Tsogo Sun Hotels includes individually branded hotels such as the luxury Beverly Hills and Palazzo as well as hotel brands that include Southern Sun, Garden Court, SunSquare and the soon to be launched Hi Hotels. Tsogo Sun Hotels also includes a 59% ownership of Hospitality Property Fund. Tsogo Sun Gaming includes casinos precincts such as Montecasino and Gold Reef City as well as ownership of Galaxy Bingo that operates 23 bingo venues across South Africa and V Slots a leading supplier of Limited Pay Out slot machines.
