GrandWest Casino forced to close because of visitor numbers

A VERY POPULAR PLACE

The GrandWest Casino & Entertainment World in South Africa’s Cape Town, always popular since its opening, now draws even more crowds. So many, in fact, that last weekend the city’s disaster management team and metro police officers cordoned off approach roads to the complex. The measure was taken to prevent overcrowding, thereby ensuring the safety of all those already there.

In 2006 Sun International’s GrandWest expansion added a new smoking privé, external walkway, more ground level parking and new fast food areas. A smoking casino brings another 1,000 slot machines and a 5,000-seat multi-purpose arena should be completed by October. There has also been an extensive remodelling of existing facilities and conversion to non-smoking areas. According to the company, construction costs have climbed from R425 million to R450 million (US$64.6 million) due mostly to an increase in cost of raw materials such as steel and copper and deteriorating exchange rates.

In May a Sun International trading update stated that overall revenues for the quarter and nine months to 31 March 2007 were up 20% on the same period of 2006. Gaming revenue for the quarter rose 21% with all the major gaming properties contributing strongly. Internationally Sun International has seen projects in the UK and Russia stalled by new gaming laws. However, progress has been made at state and federal levels in Nigeria, where a decision is likely to be taken before the end of the year for a development in Lagos. In Chile Sun International has obtained a 40% equity interest in a company to develop a casino resort in San Francisco de Mostazal, in partnership with IGGR of France and Austrian company Novomatic. (E-07.16.07)

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