Sun International, a hotel chain and owners of 13 casinos, has plans to purchase Peermont Global (Pty) Ltd. for R9.4 billion. Sun International’s goals are to grow their current portfolio as well as find new growth options according to a news release on Friday. The acquisition of the casino resort operator will help Sun become a leader in gaming, resort, and hotel operations.
On the announcement, Sun International shares rose on the JSE exchange Friday March 20, 2015. Peermont currently owns Emperors Palace, which has become one of the biggest casinos in South Africa. It also has a total of nine casino resorts plus three stand-alone hotels and three casinos in Botswana – Sedibeng Casino in Francistown, Grand Palm Casino in Gabarone, and Syringa Casino in Selebi-Phikwe.