This week Sun International celebrated the opening of its latest casino, in Lagos, Nigeria. The 632-room Federal Palace, described as a premier business hotel situated in the commercial hub of Victoria Island overlooking the Atlantic Ocean, is the first African operation for Sun International outside Southern Africa. Apart from South Africa, Lesotho and Swaziland, the company operates casinos in Botswana, Namibia, and Zambia.

In August this year Sun International CEO David Coutts-Trotter commented that the company’s two latest enterprises, in Chile and Nigeria, should provide growth in revenue in the year ahead but that, “The increased capital charges relating to these investments will however offset any contribution to adjusted headline earnings per share.”

The US$24 million project included the construction of a temporary casino in the Federal Palace Hotel, the Phase 2 refurbishment of the Federal Towers Hotel, which is currently closed, and the construction of a Swim & Recreation Club. The Federal Palace Casino has just eight gaming tables and 195 state-of-the-art smart card slot machines in denominations ranging from US$0.01 to US$2. (E-12.18.09)

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