Sun International is lauding a huge rise in revenue for its online gaming division, Sunbet, which is helping to offset a decline in the group’s land-based gaming revenue.
An almost 61% increase in online gaming revenue is in marked difference for the African gaming operator who also saw a 3.1% decline in land-based slots falling to ZAR1.4bn (£60m/$77.8m)., according to a story on Intergame today.
Sun International’s management stated that it had “implemented various initiatives to address this downturn.”
“The gaming industry is experiencing dynamic changes and Sun International, through its omnichannel strategy, will continue leveraging its strong brand and market presence to retain and expand its customer base,” Sun International said in its 2025 outlook document.
“Year-to-date trading has followed a similar trend to prior periods with extremely strong growth in our online business Sunbet, increased resorts and hotels income, and urban casinos and Sun Slots achieving low single-digit growth.”
Overall, Sunbet revenue for 2024 closed on ZAR1.2bn (£49.7m/$64.5m) which increased the group’s overall performance by 5.1% to ZAR12.6bn (£534m/$693m).
“Our balance sheet remains robust,” continued the company statement, “providing us with the financial flexibility to invest and to continue paying dividends at our targeted payout ratio. Through strategic planning, efficient capital allocation, cost management, and a focus on operational excellence, Sun International will sustain its growth trajectory and deliver stakeholder value.
“Despite the uncertain macro environment, we expect the lower inflation and interest rates to create a more favorable operating environment in the medium to long term.”
Sun International owns 11 casinos across South Africa and has been prominent in the country’s gaming landscape for the past 40 years.
