Ian & Richard Livingstone’s London & Regional (L&R) has teamed up with US casino company Century Casinos to buy South African casino and resort company Peermont Global.
L&R and Century said they had teamed up to make an initial offer to take over the company, but that there were no assurances that a firm offer would be made.
In South Africa, Peermont owns and operates the Emperor’s Palace hotel, casino and convention resort in Johannesburg, the Graceland hotel, casino and country club in Secunda, the Frontier Inn and casino in Bethlehem, the four Tusk Casino Resorts in Mmabatho, Empangeni, Klerksdorp and Thohoyandou, as well as the Mondazur resort estate hotel in San Lameer.
It also owns and operates the Grand Palm Hotel, Casino and Convention Resort in Gaborone, Botswana.
L&R made its first foray into the South Africa property market in September when it bought the V&A Waterfront development in Cape Town in a joint venture with Dubai-based Istithmar for around €600m (£395m).
