Gaming and hotel group Sun International has put its Carousel Casino complex in the North West up for sale after permanently closing the property in April 2020.
The group suffered a brutal first half of the year, with headline losses for the six months ended June 2020 declining 615% to R885 million, from headline earnings of R172 million in the same period in 2019.
The Carousel was one of South Africa’s oldest and most popular casinos and entertainment centres. Opened in 1991 in former Bophuthatswana, the casino created 100’s of millionaires during its operations.
Galetti Corporate Real Estate, which has the mandate to sell the complex, said that property spans in excess of 583 hectares and are broken up into three different portions:
- A vacant land site;
- A casino and hotel site;
- A residential and game farm site.
Considering the location, which is adjacent to the N1 national route and has access through the R101 Old Warmbath provincial road, the site is ideally located to for multiple uses, Galletti said.
The property currently has a municipal evaluation of R529 million.
The hotel area has been zoned for special use which allows room for the expansive casino and 57 room hotel to be reinstated or redeveloped.
With the vacant land on the adjacent property open for development the two portions could be developed to increase the offering and foot traffic casino between the two sites, Galetti said.
Residential and game farm
With 352 residential homes on an isolated section of farm-land, which is home to multiple species of free-roaming game, this portion is ideal for an eco-tourism attraction, Galetti said.
“The option to re-instate the housing estate on a larger scale into a local game reserve would work well with the adjacent property uses and existing casino, restaurants and redevelopment opportunity into a golf course.”
“At 111 hectares, this site would be ideally suited for industrial uses such as solar/wind farms or large warehousing park.”
“Alternatively, considering the existing hotel and casino on the adjacent property the land could be developed into a theme park, shopping centre or holiday resort come golf course.”