quality assets
GrandWest
GPI's effective stake: 33,52%
GPI directly owns 29,24% of SunWest, which owns 100% of GrandWest. This is comprised of a 20,69% stake held through GPI’s 100% owned subsidiary, Business Venture No 575 (Pty) Ltd and the balance of 8,55% is held directly by GPI. Following the acquisition of 30,6% of RAH, GPI’s effective stake increased to 33,52%.
GrandWest’s opening in December 2000 heralded an exciting new chapter in the Western Cape’s entertainment scene, being the first (and then) only casino in the Western Cape. Situated in Goodwood, Cape Town, it offers round-the clock entertainment for the whole family with all the thrill and excitement of Las Vegas-scale gambling, set within the top tourist destination of the Cape.
Boasting state-of-the-art facilities, GrandWest had an average of 64 casino tables in operation in 2008, offering American Roulette, Blackjack, Raise’em Poker and Punto Banco with in excess of 2 500 smart card slot machines. It also offers a host of entertainment facilities for both adults and children including a gamut of restaurants, bars and fast food outlets, cinemas, an intimate theatre and designer retail shops, while children can enjoy ice-skating and supervised parties, movies, rides, races and arcade games.
Visitors have a choice of the 4-star Grand Hotel, modelled on Cape Town of the past, or the more affordable City Lodge, with its 120 rooms. GrandWest also offers full conference and banqueting facilities and has played host to a variety of events, exhibitions and gala dinners.
Recent major construction at a cost of approximately R450 million has almost doubled the size of the casino to accommodate a non-smoking casino, an additional 1 000 parking bays, a parking garage and a new covered walkway. A multi-purpose arena with seating for more than 5 000 people was opened in October 2007 and has been exceptionally well received by the Cape Town community.