Hotel group Sun International has put its Carousel Casino property in the North West up for sale. |
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The Carousel Casino, one of South Africa's oldest and popular casinos, is up for sale following its permanent closure in April this year.
According to Galetti Corporate Real Estate, the property on sale consists of 369 apartments, 57 hotel rooms, 582 hectares of land and 55 000 square metres of retail opportunity.
Although the price has not been set yet, the property has a municipal valuation of over R500 million.
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One of the country's oldest and most popular casinos and entertainment centres, it was forced to shut its doors permanently in April after South Africa's nationwide lockdown to fight the novel coronavirus exacerbated an already struggling business.
Sun International said the complex “recorded escalating costs and declining revenues over the past few years,” – and the lockdown just added to its woes.
VIDEO YOUTUBE by Galetti Corporate Real Estate
"With the casino site carrying a Special Zoning, there are a number of alternative uses that the casino can be converted to while the staff village must remain residential under the current zoning."
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