Casino and hotel operator Caesars Entertainment is selling its 70% stake in South African property Emerald Resort & Casino as it shifts its focus to more “strategic markets.”

In a statement, the casino operator said it’s already negotiating with Peermont Hotels, Casinos, and Resorts for the acquisition of Caesars’ ownership in the casino property. Peermont is expected to pay $39 million in cash after adjustments, while the remaining 30% ownership in the casino operations will remain in the control of local partners.

The casino resort, located in Vanderbijlpark, is valued at a total amount of about $70 million, meaning that Caesars’ has a $49 million investment in the casino operations.

Caesars said it will continue operating the Emerald Resort & Casino until the transaction closes, which is expected to take place in late 2019.