Grand Parade Investments, the South African limited payout machine route operator, saw gross gaming revenue at its slots business jump 26 per cent.

Grand Parade Investments

The group now owns and operates five LPM route operator licences – Grandslots, Kingdomslots, Grand Gaming Mpumalanga, Grand Gaming Gauteng and the recently acquired Hot Slots. It has access to a potential 5,000 LPMs.

Gross gaming revenue during the year to June 30 rose to ZAR585.5m (£33.3m) from ZAR471.7m in the previous period.    In May this year, the company announced a deal with Sun International to sell off various casino and LPM industry interests.

Under the terms of the deal, it will sell up to 70 per cent of GPI Slots to Sun International in three stages based on the business’ financial results for the years ending June 30 2014, 2015 and 2016. The first stage involved the initial sale of a 25.1 per cent stake for ZAR276.6m, plus a ZAR20m cash payment for the cancellation of certain management services provided to the slots business.

GPI is planning to expand further into the food industry, having invested in bringing the Burger King brand to several provinces. It is also seeking to grow its footprint in manufacturing.