Sun Int Sunwest

The judgment

The court's own file

competitiortribunal vou ate bea COMPETITION TRIBUNAL OF SOUTH AFRICA Case No: 60/LM/Jul11 In the matter between: Sun International (South Africa) Limited Acquiring Firm And Sunwest International (Pty) Ltd and Worcester Casino (Pty) Ltd Target Firm Panel : Norman Manoim (Presiding Member) Medi Mokuena (Tribunal Member) Andiswa Ndoni (Tribunal Member) Heard on : 21/09/2011 Order issued on : 21/09/2011 Reasons issued on: 06/10/2011 Reasons for Decision APPROVAL [1]On 21 September 2011 the Competition Tribunal (‘Tribunal’) unconditionally approved the proposed transaction involving Sun International and Sunwest International and Worcester Casino. The reasons for approval of the proposed transaction follows below. THE TRANSACTION AND RATIONALE

[2]The proposed merger impacts on the casino gaming, leisure, hotel and resorts market. The primary acquiring firm is Sun International (South Africa) Limited (‘SISA’) which is controlled by Sun International Ltd (“SIL”). Its activities include the investment, management and operation of casinos, casino resorts and hotels in South Africa and around the world. The target firms are Sunwest International (Proprietary) Limited (“Sunwest”) and Worcester Casino (Proprietary) Limited Tebogo Mputle From: - Tebogo Mputle Sent: Monday, October 10, 2011 9:45 AM To: ‘nlopes@ens.co.za’, ‘seeman@compcom.co.za’ Ce: ‘Paulina Mfomme’; Londiwe Senona; Lerato Motaung Subject: Sun International/Sunwest reasons - 60/LM/Jul11 Attachments: 201110100935 19322.tif Dear All Please see attached the amended first page of the reasons which were sent to you on Friday, 07 October 2011. Regards Tebogo Mputle Registry Administrator __competition tribunal. south africa Tel No: +27 (12) 394 3354 Fax No: +27 (12) 394 4354 Mobile: +27 (82) 557 6897 Email: tebogom@comptrib.co.za Website: www.comptrib.co.za ‘The information contained in this message (and any attachments) relates to the official business of the Competition Tribunal, Is confidential in nature and may not be reproduced, copied, disclosed or distributed. The information may be legally privileged. The Competition Tribunal does not own and endorse any other content. Views and opinions are those of the sender unless clearly stated as being that of the Competition Tribunal. The Competition Tribunal therefore does not accept liability for any claims, loss or damages of whatsoever nature, arising as a result of the reliance on such information by anyone. This e-mail is intended solely for the use of the recipient(s) to whom it is addressed and others authorized to receive it. If you are not the intended recipient(s) you are hereby notified that any disclosure, copying, distribution or taking action in reliance of the contents of this information is strictly prohibited and may be unlawful. E-mail transmission cannot be guaranteed to be secure or error-free as information could be intercepted, corrupted, fost, destroyed, arrive late, incomplete and/or contain vinuses. The sender therefore does not accept liability for any errors or omissions in the contents of this message, which arise as a result of e-mail transmission. If verification is required please request a hard-copy version. The Competition Tribunal is not liable for any delay in the transmission of this e-mail.