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TSOGO SUN GAMING (TSG) Shares

ABOUT TSOGO SUN GAMING

📊 Tsogo Sun Gaming Ltd was established in June 2019 when the Tsogo Sun group split into Tsogo Sun Hotels and Tsogo Sun Gaming. Tsogo Sun has a rich history dating back to 1969, when prestigious South African hotelier Sol Kerzner first founded the Southern Sun Hotels chain.

📊 The Group’s gaming division began to burgeon after 1994 with the legalisation of gambling. Its extensive gaming portfolio began with the purchase of 14 gaming destinations, and the subsequent acquisition of five casino licences: Emnotweni (Nelspruit), The Ridge, Hemingways, Montecasino and Suncoast.

📊 In 2009 the Group added two more casinos, namely The Caledon and Blackrock, after the acquisition of Century Resorts Limited and Winlen Casino Operators (Pty) Limited. The Group’s dominance of the South African gaming market was cemented with the buy-out of Gold Reef Resorts in 2011, to include Gold Reef City, Silverstar, Queens, Mykonos, Goldfields, Golden Horse and Garden Route.

📊 Today Tsogo Sun Gaming commands a high-value portfolio consisting of 13 gaming and entertainment destinations as well as ownership of Galaxy Bingo and V Slots. The company differentiates itself in the market by offering a diverse range of gaming and entertainment options including theatre productions, movies, restaurants, and ten-pin bowling.

📊 Data from the company’s 2019 financial analysis shows a strong performance, with total income for the year of R11.6 billion, ending 18% above the prior year mainly due to a 21% growth in net gaming win, which was predominantly as a result of the impact of the inclusion of the bingo and LPM businesses for the first time for a full year. This occurred despite regulations applied to the gaming industry as well as a slowing of the economy overall.

VISION & VALUES OF TSOGO SUN GAMING

  • Tsogo Sun Gaming is set to benefit from projected growth in gaming win as the economy improves, while focusing on costs to protect its margins in the interim.
  • Expansions and refurbishments should drive additional growth, including the Suncoast expansion and refurbishment completed in December 2018, as well as its bingo sites, the addition of more licensed positions available at most casinos, and the optimisation of its V Slots sites and machines.
  • New gaming opportunities will also arise from the company’s Western Cape metropole and its Mpumalanga fourth casino licence, and potential additional Bingo licences in provinces where it is not yet licensed

MARKET PERFORMANCE OF TSOGO SUN GAMING

  • Tsogo Sun Gaming Ltd currently trades on the Johannesburg Stock Exchange (JSE), where investors can buy shares under the stock symbol -TSG. The company has demonstrated a strong performance despite setbacks to the South African economy, delivering a stable share price and good long-term dividends for investors.
  • The company’s focus on further diversifying its already valuable portfolio, to include additional sites and a command of the Bingo and V slots sectors, positions it to take full advantage of the expected upswing in the economy.
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