Tsogo Sun to acquire betting platform Betcoza
The hotel and gaming group will acquire a 50.1% stake in SA’s premier sports betting and entertainment site for R49m.
In a move that helps Tsogo Sun Hotels gain a foothold in SA’s online betting industry, the gaming and leisure group will, through its subsidiary Alternative Gaming, acquire online betting platform Bet.co.za (Betcoza).
“The acquisition represents a strategic opportunity for Tsogo Sun Gaming to enter the online betting space via an existing, developing business,” the company said in a statement to shareholders on Friday.
The value of Betcoza’s net assets comprising the stake Tsogo Sun is acquiring is worth R37.6m, the hotelier said.