Peermont Acquires Emerald Casino
Wednesday, May 15, 2019
Leading gaming and hospitality group, Peermont Hotels, Casinos and Resorts today announced that it has concluded a purchase agreement with Nevada-based Caesars Entertainment Corporation to acquire the Emerald Resort & Casino in Vanderbijlpark, Gauteng.
Emerald Resortís prime location on the banks of the Vaal River, coupled with its unique offerings, is perfectly aligned with Peermontís primary objective of creating premium leisure and gaming experiences for its customers. ďPeermont successfully operates 11 multi-faceted casino resorts across southern Africa, and we confidently see Emerald Resort seamlessly fitting into our core business areas,Ē says Nigel Atherton, Chief Executive Officer, 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 Peermontís Winners Circle loyalty programme.
Emerald Resort first opened its doors in 1997 and features a hotel with 77 rooms, and a casino that boasts 430 slot machines and 22 table games. The resortís entertainment and leisure offerings include the Aquadome water park, exciting game park, relaxing 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.