Eastern Cape Calls for Casino License Bids

August 15 - With the growth of the popularity of gambling resorts in South Africa, the Eastern Cape Gambling and Betting Board has called all interested parties to issue their bids to obtain a lucrative ten year license to operate casinos in the area.

At present, Sun International owns the ten year license, under which it runs the area's wildly popular Boardwalk Casino.

According to an advertisement that appeared in the local media this week, the Eastern Cape Gambling and Betting Board announced that a bidders conference would be held at the beginning of September this year. At the conference, those parties interested in obtaining the license would be heard by the board and shortly thereafter, requests for proposals will be issued.

Final applications for bids need to be submitted by mid December, 2008, according to the advertisement.

The Eastern Cape Gambling and Betting Board is keen to see the growth of casino operations in the area, after experiencing the positive impact that existing casinos in the area have had on the local economy. These casinos, according to the Gambling and Betting Board, are responsible for "much needed infrastructure development and have created many sustainable jobs."

The Gambling Board outlined the criteria for the license applications, without which the proposals would not be considered. On top of the list was a minimum shareholding percentage with empowerment shareholders and trusts that are based in the Eastern Cape.

Applicants would also need to invest a minimum of R750 million, and guarantee to construct minimum facilities that include a hotel and restaurant incorporated into the casino resort.

Sun International's top casino is Sun City casino

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