The decision by the Summerstrand, South Africa-based subsidy of Sun International Ltd. (SUI:SJ), was made after a condition of their plan, the extension of the Boardwalk’s casino license, was not issued by the Eastern Cape Gambling and Betting Board. The current casino license expires in nine years and amendment of its 15-year term for an additional 20 years by the Gambling Board would have given the investors security to go forward with their development plans, according to InterGame.The development would have created 8,500 jobs and included a retail shopping mall and an events and entertainment venue. In addition, a 2,000sq.m Magic Company FEC, with cinemas, laser tag, and tenpin bowling, was also part of the plan for the location.
Had the ZAR1.3bn (€80m) development plan come to fruition, it would have been the city’s largest single investment in hospitality and tourism to date.
In other South Africa news, the decision by Rob Davies, the country’s minister of trade and industry, to award a new casino license to the province of North West has drawn criticism from operators and could face a court challenge.