No jackpot for Tsogo Sun Gaming

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No jackpot for Tsogo Sun Gaming

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Published Date: 2020-11-13 | Source: Stephen Gunnion | Author: Stephen Gunnion

No jackpot for Tsogo Sun Gaming

The casino operator will report an interim loss due to the impact of the Covid-19 lockdown on its operations.

Tsogo Sun Gaming will swing to a first-half loss after it closed all its casinos at the height of the lockdown and then continued to face restrictions on alcohol sales.

In a trading statement, the casino operator also blamed curfews and limitations on capacity to maintain social distancing for the deterioration in earnings.

It expects to report a loss per share of between 48c and 57c for the six months to end-September, down from earnings of 63.7c last year. Its headline loss will be between 47c and 56c from earnings of 63.9c previously.

Tsogo's casinos include Montecasino and Gold Reef City in Gauteng, Hemmingways in East London and The Caledon in the Western Cape, amongst others. It also operates Galaxy Bingo.

Its results are scheduled for release on 19 November. Its shares fell 3.8% to R4.10 yesterday. The trading statement was released after the close of trade.





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