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Peermont


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Peermont Prepare For Growth

October 1 ? Peermont, one of South Africa?s leading gambling, hotel and entertainment groups is planning a new casino, hotel and conference centre in Richards Bay, Kwazulu Natal.

A feasibility study is currently underway to decide whether the Tusk Umfolozi Casino at Empangeni should be relocated to Richards Bay, which is the most rapidly growing metropolitan area in South Africa. The new centre is to be built at an approximate R220m and is expected to include 300 slot machines, 16 gaming tables as well as a Metcourt Hotel which will have 80 rooms and suites, massive 400-seater conference facilities, a restaurant and show bar.

Peermont have tendered for land and should they win the bid, Environmental Impact Assessment approvals will need to be obtained. As soon as all the approvals are granted from the local authorities and the KwaZulu-Natal Gambling Board, construction is likely to commence in 2008 and the resort should be open for business at the end of 2009.

CEO of Peermont, Anthony Puttergill said that both the Richards Bay and Klerksdorp regions were experiencing rapid economic growth, which he thinks will strengthen sustainable demand in the coming years for their extended hotel, gaming and conference facilities.

'The fact that both hotels are larger than required in terms of our casino license bid commitments is evidence of our confidence in the growing demand for hotel rooms as a result of increased domestic and international tourism levels in South Africa,' he said.

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7/31/2008 4:06:26 PM
 
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