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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, […]
Sun International is looking to acquire new companies after its attempt to purchase Peermont, the owner of Emperors Palace, was unsuccessful. The deal, valued at around R7 billion, was terminated due to issues with competition regulators. In October 2024, the Competition Commission recommended that the Competition Tribunal reject the acquisition, stating it would substantially prevent […]
Sun International Ltd has announced the immediate termination of the proposed R7.3 billion (approx. €359.6 million) acquisition of Peermont’s Emperor’s Palace resort and its online sports betting brand, PalaceBet. The deal, first announced in December 2023, received approval from Sun International’s shareholders in March 2024. However, it was referred to the Competition Tribunal after the Competition Commission […]
Sun International, which owns the Sun City Resort, has recorded a rise in gaming and hospitality revenue, and the group is set to expand into new online gambling markets. According to the group’s interim results for the six months ended 30 June 2023, the group’s strong performance was underpinned by the strength of its diversified […]
Sun International Limited, a South African hospitality group, has unveiled its intention to sell 43% of its shares in Tourist Company of Nigeria Plc, the entity that owns and operates the renowned Federal Palace Hotel and Casino. The decision comes as Sun International looks to divest a significant portion of its stake to Rutam Finance […]
Sun International, the prominent gaming, casino, and hotel group listed on the Johannesburg Stock Exchange (JSE), has reported remarkable success in the sales of the first phase of its Sun Vacation Club luxury accommodation project at Sun City. The development, launched in October 2022, has surpassed expectations, with gross sales reaching R166 million by the […]
Sun International, a hotel and casino group, anticipates robust profit growth for the first half of the year ending in June, buoyed by the ongoing recovery in tourism and record revenues from its online sports betting platform, SunBet. However, the devaluation of the Nigerian naira has somewhat tempered the company’s performance. The group is projecting […]
