It has taken a global pandemic to make many companies reconsider the direction in which their businesses are heading. Many industries have had to rethink the way they get their products and services to customers, including the South African gambling industry. It was in with that mindset that Tsogo Sun made the decision to gain a foothold in the South African online betting industry. To do so, the group announced that it would be acquiring a 50.1% stake in Bet.co.za. The purchase is being made via Tsogo Sun’s subsidiary Alternative Gaming and the group is paying R49 million to become a major stockholder in South Africa’s premier sports betting and entertainment site.
Tsogo Sun Gaming made an announcement to its shareholders regarding the purchase on Friday, in which it said: “The acquisition represents a strategic opportunity for Tsogo Sun Gaming to enter the online betting space via an existing, developing business.”