A surge in new customers and a recovery in domestic tourism has seen Sun International report record full-year profit at both its online sports betting and gaming business as well as its iconic Sun City resort.
The company, which also owns hotels such as Table Bay in Cape Town and Maslow in Sandton, said on Monday that total income rose 7% to R12.1 billion to end-December, while adjusted core profit grew 2.4% to R3.4 billion. Its regional casino businesses felt pressure from challenging local conditions and load shedding weighed on its slots business, but the company, valued at about R10 billion on the JSE, upped its dividend 6.7% to R3.51, a R920 million payout.
Sun International reported that online gaming business SunBet had exceeded its five-year targets, with overall income more than doubling to R733 million and record adjusted core earnings of R221 million being reported. It noted that"active players continued to grow with additional games being offered and the overall player experience being enhanced".South Africans need to be in the know if we want to create a prosperous future.
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