The Empowerment company Grand Parade Investments ended its year with a rise of over 13% in revenue. The bump was largely due to the 17.1% rise in revenue from its limited payout slot machines.
The rise enabled it to lift its year-end dividend by nearly 20% overall.
The company was not satisfied with merely having the success of the investment. It made its first move to the food market last year through the acquisition of the rights to operate the Burger King franchise locations within sub-Saharan African.
Alan Keet, Chief Executive Officer, stated “Although we are only five weeks into the new trading year, turnover from the three Western Cape outlets… has already reached R6.6 million.”
Hassen Adams, who is the Executive Chairman, stated that he gain would grow at “an accelerated pace with much of the growth taking place in Gauteng”.
The group was originally founded in order to assist previously disadvantaged individuals in order to invest in Sun International’s Grand West Casino and Table Bay Hotel in Cape Town, in continuing investment that stems mainly toward the gaming industry.
The investment strategy is geared toward the limited payout slot machines, wherein revenue from Grandslots in Western Cape, Kingdomslots in KwaZulu-Natal and Grand Gaming Slots in Gauteng rose to a collective +17.1% this year.
Since the end of the financial year, the group has acquired two new limited payout machine route operator licences. One is located in Gauteng, while the other is in Mpumalanga, and allows to roll out 6,000 more machines overall.
“This brings us significantly closer to achieving our stated objective of acquiring licences for 7 500 machines in the short term,” Keet said.
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