HOME

investing in change ...

History

From small beginnings, GPI has come a long way, but remains true to its original objective: the empowerment and creation of wealth for all its shareholders.


1997

   Grand Parade Investments Limited was incorporated to conduct business as an investment holding company with interests in the leisure, hotel and gaming sectors – specifically for the express purpose of partnering with SISA, as its primary BEE partner in the Western Cape, in the award of the exclusive casino licence for the Western Cape Metropole.
     

1998

   GPI converted to a public company.
     

1999

   SunWest emerged as the triumphant bidding vehicle and was awarded the exclusive license for the GrandWest casino in Goodwood, Cape Town.
     

2001

   The public response to the preferential offer was overwhelming and saw previously economically marginalised communities across the Western Cape taking up shares in GPI.
   
  GPI acquired an initial 8,53% stake in SunWest.
     

2002

   GPI increased its economic stake in SunWest from 8.53% to 19.12%.
     

2006

   The GPI SPV Trust and the GPI BBBEE Trust established to enhance and sustain the company’s empowerment status and raise capital to repay debt.
     
    The SPV Trust owns 8.17% directly in GPI and this, together with the units held in the BBBEE Trust and the units locked in by black shareholders by agreement amounts to an effective lock in of 28% until 2012.
     

2007

   GPI Increased its stake in SunWest to 26.41%.
     

2008

   GPI listed on the main board of the JSE Securities Exchange in the 'General Financial' sector. After listing, thousands of the initial shareholders progressed to a new corporate listed environment with an opportunity to participate in the continued growth and development of GPI.
   
  GPI acquired a 30.6% stake in RAH, giving GPI a share in Carnival City Casino and Entertainment World, Sibaya Casino and Entertainment Kingdom and the Boardwalk Casino and Entertainment World and an increased share of SunWest, National Manco and Western Cape Manco.
   
  GPI acquired a 50% economic and minority voting stake in Akhona GPI which owned a 20% stake in Thuo Gaming KZN and a 6% stake in Dolcoast.
   

2009

   GPI exercised further options during the financial year and increased its stake in SunWest from 26.41% to 29.24%.

GPI now indirectly owns an effective share in Sibaya Casino of 6.3%.

In December 2008, GPI provided R7 million to Akhona GPI so that it could exercise its pre-emptive rights through a first round offer. GPI provided an additional R13 million to Akhona GPI so that it could exercise the balance of its pre-emptive rights through a second round offer. As a consequence, GPI’s economic stake increased to 75% and it’s voting rights to 49.99% in Akhona GPI.
 
    In November, GPI announced a R170 million deal to give it a controlling stake in Thuo Gaming, operator of limited payout machines, by taking full ownership of Carentan Investments, a subsidiary of the Australian-based Tatts Group, which owned 90% of Thuo Gaming.
     

2010

   Watershed year from investor to operator.
  • Invested R192 million and became a leading slots operator.
  • Invested R28 million to increase our direct stake in SunWest to over 30%.
  • Invested R4 million to increase our stake in Golden Valley Casino to 44.4% and achieved joint control.
  • Grew our indirect stake in Sibaya Casino through Akhona GPI’s increased stake in Dolcoast, which increased from 18.5% to 23%.
  • Remained dividend-active by matching last year’s 7,5 cents declaration.
  • Increased our net asset base by 8% and the decline in adjusted headline earnings per share was contained to 7%.