quality assets
Sibaya
GPI's effective stake: 7,3%
GPI indirectly increased its effective interest in the lucrative and exceptionally well positioned Sibaya Casino by advancing R7million to its associate, Akhona Gaming Portfolio Investments (Pty) Ltd (Akhona GPI), which exercised all of its pre-emptive rights in Dolcoast Investments Ltd (Dolcoast). By the end of December 2008, Akhona GPI direct stake in Dolcoast, (which owns 22,4% of Sibaya Casino) had increased from 6% to 9,5%. In January 2009, Akhona GPI’s stake increased further to 18,5% of Dolcoast and in order to achieve this GPI provided and additional R13million to Akhona GPI so that it could exercise the balance of its pre-emptive rights through a second-round offer. GPI now indirectly owns an effective share in Sibaya Casino of 7,3% as a result of these transactions and the 30,57% acquisition in RAH the previous year.
Sibaya Casino & Entertainment Kingdom basks lazily in the green hills just north of Durban. Conveniently situated between Umdloti and Umhlanga, the ideal getaway for those seeking all the thrills and spills, laughs and luxury KwaZulu-Natal has to offer. With every convenience from state-of-the-art conference facilities to placid ocean views, Sibaya is nothing short of being home away from home.
With over 1 000 slot and 24 touch-bet roulette machines, the action never stops with winnings all day long, enticing players to discover enthralling new additions to their ever-evolving gaming floors. Sibaya’s touch-screen technology is years ahead of anything else experienced in South Africa.
Sibaya has two hotels, which boast spectacular views of the warm Indian Ocean - the luxurious 5-star Royal Sibaya Hotel and the three star Sibaya Lodge. Sibaya is just a few kilometres from Umhlanga and Umdloti, which both possess a vast range of additional accommodation options suitable for conference delegates. Both facilities are within reach of the main casino building and all of its opulent restaurants and facilities.
Taking its cue from African architecture, this 593-seater thatched impressive theatre presents major productions all year round. Krakatoa, a three-storey temple of decadence, is the pulse of Sibaya’s nightlife and entertainment. Its thundering sound system and captivating lighting promises an evening of pure euphoria.