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Sun International reports discussions over potential acquisition

Deals & M&A

Sun International told shareholders that discussions are under way over a potential acquisition, but said the outcome is uncertain and completion is not guaranteed. The company said a transaction, if it proceeds, could materially affect its securities; Nedbank Corporate and Investment Banking is the transaction sponsor.

Investors in Sun International face uncertainty over a possible transaction that could affect the company’s securities.

End-of-day close Sun International (SUI), ZAc, to 12 January 2024
Story date16 October 202312 January 2024

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Regulation

South Africa’s Treasury delays online gambling tax design until 2027 budget

South Africa’s National Treasury said the final design of its proposed national online gambling tax will be announced in the February 2027 Budget. The proposal, first outlined in a discussion paper, included a 20% tax on gross proceeds, but that rate is not final; consultations continue on the tax’s design and effects on provincial regulation and the regulated market.

South Africa's National Treasury has said the final design of a proposed national online gambling tax will be announced in the February 2027 Budget, according to Finance Minister Enoch Godongwana's Medium-Term Budget Policy Statement. The proposed 20% rate is not final, and consultations on the design continue.

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