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Grand Parade Investments Ltd to acquire shares and operations of Gold Circle KwaZulu-Natal Slots (Pty) Ltd


Thursday, 6 Mar 2014 01:05am EST 

Grand Parade Investments Ltd:Concluded agreement to acquire shares and operations of Gold Circle KwaZulu-Natal Slots (Pty) Ltd, trading as KZN Slots.KZN Slots is licensed as route operator in KwaZulu-Natal to operate 1,000 Limited Payout Machines (LPMs).Purchase price will be settled by issue of GPI shares and cash.Acquisition of this additional licence has taken GPI closer to achieving its stated objective of acquiring LPM route operator licences for 7 500 LPM machines.GPI board expects to take over operations of KZN Slots during July 2014.