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Grand Parade Investments Ltd's Subsidiary Announces Acquisition Of Two Additional Limited Payout Machine Licenses In Gauteng And Mpumalanga

Monday, 5 Aug 2013 01:05am EDT 

Grand Parade Investments Ltd announced that wholly owned subsidiary, GPI Slots (Pty) Ltd (GPI Slots) has concluded an agreement to acquire the shares and operations of Bohwa 1 Gaming (Pty) Ltd, trading as Hot Slots (Hot Slots). The agreement is including the approval of the transaction by the Gauteng Gambling Board and GPI shareholder approval. A portion of the purchase price will be settled by the issue of GPI shares (the Acquisition Issue). Shareholders of GPI are further advised that the Mpumalanga Gambling Board has approved the transfer of the LPM Route Operator Licence held by Zimele Slots Mpumalanga (Pty) Ltd to Grand Gaming Mpumalanga (Pty) Ltd, a wholly owned subsidiary of GPI Slots. The licence is one of two issued in the province where a maximum of 2,000 LPMs may be rolled out. Financial terms of the transaction were not disclosed.