Gaming and hospitality group Peermont Hotels, Casinos and Resorts has concluded a purchase agreement with Nevada-based Caesars Entertainment Corporation to acquire the Emerald Resort & Casino in Vanderbijlpark, Gauteng.
“Peermont successfully operates 11 multi-faceted casino resorts across southern Africa, and we confidently see Emerald Resort seamlessly fitting into our core business areas,” says Nigel Atherton, CEO, Peermont.
Peermont considers the acquisition of Emerald Resort to be mutually beneficial as it presents great opportunities for growth and development. An additional benefit of the acquisition is that Emerald Resort will now be able to offer a wider range of rewards through Peermont’s Winners Circle loyalty programme.
Emerald Resort first opened its doors in 1997 and features a hotel with 77 rooms, and a casino with 430 slot machines and 22 table games. The resort’s entertainment and leisure offerings include the Aquadome water park, game park, spa and variety of restaurants.
The conclusion of the sale will require the approval of, inter alia, the Gauteng Gambling Board and Competition Authority. Once this has been completed, Peermont will embark on a full integration process. Caesars Entertainment will continue to operate the property until the transaction is complete which, subject to regulatory approvals and other customary closing conditions, is expected to be in the third quarter of 2019.