Tsogo Sun moves to sell Goldfields Casino in Welkom
Tsogo Sun said its board approved a plan to dispose of its interest in Goldfields during the financial year and classified the property as an asset held for sale.
South Africa.- South African gambling and entertainment group Tsogo Sun has confirmed plans to sell Goldfields Casino and Entertainment Centre in Welkom, marking the first disposal of a gaming property by one of the country’s three largest casino operators.
The planned sale was disclosed in the group’s consolidated annual financial statements for the year ended March 31, 2026. Tsogo Sun said its board approved a plan to dispose of its interest in Goldfields during the financial year and classified the property as an asset held for sale. The transaction, however, had not been completed by the end of the reporting period and remained in progress as of March 31.
Goldfields is among the smallest properties in Tsogo Sun’s casino portfolio, with 250 slot machines and nine gaming tables. The company reported the casino’s carrying value at R81m (€4.25m), including R69m (€3.62m) in property, plant and equipment and R10m (€525,000) in intangible assets.
The financial statements also show Goldfields recorded an impaired carrying amount of R2m (€105,000) in 2026, compared with R31m (€1.63m) a year earlier.
Although Tsogo Sun did not give a reason for the planned disposal, the sale could be linked to South Africa’s evolving gambling landscape, where bettors are increasingly favouring online betting over land-based casinos.
In the 2018-19 financial year, casinos generated R18.6bn (€980m), accounting for 60.5 per cent of the country’s R30.7bn (€1.61bn) gross gambling revenue, while betting contributed R17.2bn (€906m), or 23.5 per cent. However, by the 2024-25 financial year, National Gambling Board data showed betting revenue had risen to R51.9bn (€2.72bn), representing 69.8 per cent of the country’s R74.4bn (€3.90bn) gross gambling revenue, while casinos generated R16.6bn (€874m), or 22 per cent.
The growing popularity of online gambling has put added pressure on smaller casino operators, while betting companies continue to strengthen their position in the market and capture a larger share of industry revenue.
