What was proposed?
The Culemborg Metropole Casino, one of the bidding companies for a metropolitan casino license in the Greater Cape Town area proposes the development of a multi-billion expansion. The focal point will be a world landmark casino with integrated casino hotel, an entertainment, retail complex, an exllibition centre, the conversion of the Good Hope Centre into a multi-purpose convention entertainment centre and a major film studio and post production complex as part of Phase 1.
Who is proposing it?
A consortium that has major international participants
(listed below) has made the proposal:
• Ogden Entertainment In.;
• London Clubs International;
• Kangra (Pty) Lld; and
• Marriott Hotels.
Empowerment Institutions, investment companies and groups will hold 50% of the equity and be represented on the Board of Directors. Within 2 years of operating the casino, the company will be publicly listed on the JSE.
Where would this development have occurred?
The Company owns the 43,9 hectare Culemborg PX site. It is approximately 1.5km long and 400m wide and is bordered on the north by the N1, on the west by the elevated N2, by extensive road tracks to the south and Church Street on the eastern site. The site is flat and derelict with a limited number of short-term industrial users. It is currently utilized as a storage area and marshalling yard.
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