quality assets
Kingdomslots
GPI's effective stake: 20%
Kingdomslots is the trading brand of Thuo KZN. GPI increased it direct stake in Kingdom Slots (Thuo KZN) through its acquisition of Wild Rush Trading 97 (Pty) Ltd, which owns 10% of Thuo KZN. This acquisition is in line with GPI’s strategy to increase its exposure to the limited payout machine market. GPI’s effective stake in Thuo KZN increased to 20% as a result of this acquisition and through its 50% shareholding in Akhona GPI.
Akhona is an investment holding entity based in KwaZulu-Natal holding interests in gaming assets in that province. Its interests include 20% of Kingdomslots and 6% of Dolcoast, which in turn holds 22% in Afrisun KZN. Kingdomslots is the trading brand for this market.
The shareholders of Dolcoast are all BEE parties, with its main shareholders being KwaZulu-Natal broad-based community groups. The Akhona transaction represented the perfect opportunity for GPI to diversify its gaming interests into KwaZulu-Natal. GPI is looking to expand its foothold in KwaZulu-Natal, which it views as a very lucrative gaming market.
Given that Akhona is currently in a start-up phase, it has not generated any profits to date. Once the roll-out of the allotted LPMs has been completed, it is expected that Akhona will then contribute to GPI’s profits.
GPI exerts board influence with its one board appointment – Hassen Adams.