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January 11, 2008

Tsogo Sun launches a blistering attack on proposed Gold Reef sale

Tsogo Sun, a hotel and casino operator, yesterday launched a scathing attack on the proposed "improper" sale of rival Gold Reef Group to a private equity consortium, calling on the Gauteng Gambling Board to delay its decision in order to investigate what it called issues of "considerable concern".

During a packed hearing at the Gambling board, Tsogo Sun claimed that a R12 million payment by Gold Reef to Maxim Krok, its non-executive chairman and major shareholder, was not a thank you payment for services to the company.

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Posted by StaffWriter at January 11, 2008 9:01 AM