Sun International has had to call off its planned acquisition of Peermont due to regulatory delays.
A probe of the deal by the South African Competition Tribunal is set to host hearing and closing arguments on October 2 this year.
However, the acquisition, first announced in December 2023, had a longstop date of September 15.
Sun International, which operates land-based casinos alongside the Sunbet brand online, said it has therefore “mutually agreed” with Peermont to terminate the transaction.
The African gaming operator had hoped to boost its omnichannel presence by acquiring Peermont, whose flagship venue is the Emperors Palace Resort in South Africa.
Sun had plans to further boost its Sunbet brand’s growth through the deal.
In October 2024, however, the move was held up by a recommendation from the Competition Commission that the Competition Tribunal stop the deal going ahead.
The Tribunal has been deliberating on the finer details of the Peermont acquisition since then, with its final hearing date scuppering the move.
