Sun International online betting operation, Sunbet, has become a significant contributor to the group’s profits. In the first half of this year, it reported adjusted earnings before interest, taxation, depreciation, and amortization (Ebitda) of R292 million on an income of R874 million.

This performance is now comparable to that of the group’s traditional cash cow, GrandWest in Cape Town, which recorded adjusted Ebitda of R297 million. Both Sunbet and GrandWest have margins exceeding 33%, with Sunbet currently holding a slight edge.

Since opening in December 2000, GrandWest casino has enjoyed exclusivity in the Cape Metropole for nearly 25 years. As a result, it has consistently outperformed Sun International’s other casinos in terms of margin and income. However, this may soon change, especially with rival Tsogo Sun seeking to relocate its Caledon license to Somerset West.

This process has been ongoing for over a decade, and a decision from the gaming board is expected after public hearings in 2024. Sunbet’s growth has been remarkable, with a 71% increase in income over the past six months, largely due to a more than doubling of slots revenue.


The aggressive expansion into the online space is yielding strong results, with nearly 500,000 new sign-ups—almost double the number from the same period last year. Average daily cash deposits now stand at R23.4 million, more than double last year’s figures.

The online betting market in South Africa is booming, now accounting for about 70% of the total gaming industry. This marks a significant shift from 82% for physical casinos in 2010 to just 23.8% in 2024. Sun International has prioritized scaling its online business over the past five years, recognizing the risks of being a smaller player in a market dominated by competitors like Hollywoodbets and Super Group’s Betway.

Betway continues to grow strongly, with its South African operation increasing by 31% year-on-year in Q2. In contrast, Tsogo Sun has struggled to establish a competitive online platform.

For the year ending March 31, 2025, its online business reported R250 million in gross gaming revenue, with an adjusted Ebitda barely breaking even. Tsogo’s CEO, Johnny Copelyn, pointed out that the decline in profitability is largely due to the rise of online betting. Despite being a major player in the casino sector for years, Tsogo’s lack of a successful online offering poses a significant threat to its position.

Copelyn acknowledges that while Tsogo has made strides in improving its online offerings, it faces challenges competing with larger, international companies. He believes that Tsogo can still carve out a medium-sized online presence, but it will be difficult to match the marketing power and betting sizes of the major players.

In conclusion, Sun International’s integrated strategy and rapid growth in online gaming have placed it in a strong position, while Tsogo Sun must overcome significant hurdles to remain relevant in the evolving landscape.