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SUN INTERNATIONAL LIMITED - Approval of Sun Internationals R3 billion investment Time Square at Menlyn Maine?

Release Date: 31/07/2014 17:21
Code(s): SUI     PDF:  
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Approval of Sun International’s R3 billion investment “Time Square at Menlyn Maine”

SUN INTERNATIONAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1967/007528/06)
Share code: SUI
ISIN: ZAE000097580
(“Sun International” or “the company”)


APPROVAL OF SUN INTERNATIONAL’S R3 BILLION INVESTMENT “TIME SQUARE AT MENLYN
MAINE”

Sun International is delighted to advise shareholders that the Gauteng Gambling Board has approved its
application to amend Morula’s casino licence thereby permitting the relocation of the casino (currently
situated in Mabopane) to the Menlyn Maine precinct in Tshwane.

The Gauteng Gambling Board approval follows a prescribed public participation process in terms of the
Gauteng Gambling Act.

The approval, which is subject to certain conditions that largely reflect the commitments made in the
application, opens the way for Sun International to commence planning and construction of the R3 billion
Time Square development. Sun International, through group companies, will have a management
contract and hold an effective 74.9% of the development.

Time Square will offer a 5-star hotel and conference centre with 100 luxury rooms and 10 suites to cater
to the diplomatic travel market, support the business traveller, encourage overnight stays in Tshwane and
accommodate gambling patrons over weekends. It will also boast a world class indoor entertainment
arena seating 8,000 people for international and local entertainment, concerts and sports events, and
provide a much-needed convention and exhibition facility for Tshwane residents.

In addition to the most recent innovations in gaming, the casino will open with 2,000 slot machines and
60 tables. Other attractions will include a diverse range of retail shopping, bars and restaurants that will
draw visitors from around the Province, with parking for 2,785 vehicles.

The company expects that in addition to significant job creation, the development will also generate
considerably more revenue for both provincial and national government by way of taxes and gaming
levies and will generate far greater returns for shareholders and all stakeholders compared to the on-
going operation of Morula in its current location.


Sandton
31 July 2014

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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