The Monitor :: Scenic Adventures Acquires Masa Casino Licence

Tuesday 31st March 2020

Scenic Adventures (Pty) Ltd has acquired a licence to operate a casino at Masa Square Centre.

According to RDC Properties financial results year ended December 31, 2019, the group's Executive chairperson, Guido Giachetti said a condition licence to operate a casino in the Masa Centre was issued to an operator in December last year.

"We expect this operation to start contributing positively to the centre within the end of the year and consolidate the entertainment offering of the centre," he said.

The casino is expected to have 130 slot machines and 11 table games.

The development of the casino and opening are anticipated to be within a period of 15 months from the date of approval.

In 2012, war erupted in the casino industry after RDC Properties was issued a licence to operate a casino in the CDB, Masa Square Centre.

This did not sit well with the oldest players, Sun International, Moonlite and Peermont, who objected granting of the licence saying that the market is already saturated.

They took the matters to court in which RDC Properties lost the battle to operate a

According to Giachetti, three partners entered a franchise agreement enabling the conversion of the Masa Square Hotel to a Protea by Mariot Hotel, effective April 1, 2020.

"This will enable the hotel to benefit from arguably the largest loyalty programme in the world; a substantial property improvement plan will need to be implemented," he said.

Meanwhile, the property group noted that during the fourth quarter, they also received the approval from the authorities for the building of the first retirement offering in Gaborone.

Giachetti said the legal framework is now being put in place, as they await the final tenders for the construction works to start.

"The land was acquired before the end of February 2020. We have the pleasure of confirming that after a protracted tendering," he said.

Giachetti said despite the challenging local market, the ICC Flats contributed very positively to the rentals and uptake was very pleasing, at the end of the year, the company was at 97% with strong rentals.

Source

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