Tsogo Sun
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Year end: Mar 2017
Assessment date: Apr 2018
TSH’s board reporting lacks leadership voice, appearing to be a formal, minimum compliance response to important governance issues, such as protection of minorities, given weight of major shareholder, HCI, and concentrated competence vested in CEO and CFO.
TSH provides insightful reporting on operating context (gaming licences), and its close cooperation with regulatory authorities indicates that TSH leadership is actively managing the conversation away from open competition towards responsible regulation.
Notwithstanding its case that its contributions to the local economy outweigh the negative effects of gambling, the company’s lack of reporting of its direct impact on its customers through practices that might encourage problem gamblers (via loyalty programmes and other incentives), may become a target for activist organisations scrutinising the gambling industry. TSH appears well aware of external risks such as illegal gambling, and prepared to exploit online gambling should this become legalised.
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