GPI hedges its Lotto bid bets

GRAND Parade Investments’ (GPI) decision to exit bricks-and-mortar gambling and increase its portfolio in technology-based gaming, will, it hopes, position it even more favourably to win the management contract for the Lotto.

Hassen Adams, GPI executive chairman, is quietly hopeful the company has a realistic chance of winning the National Lottery bid to be announced in August.

“We have the best operators in the world, and we have focused on making our bid world class. We are also able to fund the entire implementation of the bid out of our own financial resources.”

The group has invested in R&D for online gaming and already has an online betting operation. It is waiting for proposals on online gaming from government and will be able to bid for this opportunity.

The company has structured the deal in which it is exiting SunWest, and will concentrate on the manufacture of gaming machines that will be supported by Sun International and Tsogo Sun.

GPI is the first and only gaming machine manufacturer in South Africa. It will grow its online sports betting and LPM expansion. —