Sun International reports strong results

Sun International has reported strong full-year results, with income for the year up 44 per cent from the prior year to R11.3bn.

A combination of market share gains for its urban casinos, turnaround of its Sun City operations and exceptional growth in its alternate gaming businesses, plus sustainable cost savings, contributed to the South African adjusted EBITDA being up by 96 per cent to R3.3bn.

Adjusted headline earnings improved from R110m to R1.1bn, with adjusted headline earnings of 439 cents per share, up from 44 cents per share in the prior year.

As a result of sustainable cost savings, the South African operation’s adjusted EBITDA margin improved from 28.2 per cent in 2019 to 29.7 per cent. 

Sun International CE Anthony Leeming said: “This strong performance reflects the resilience of our market, quality of our operating businesses and disciplined execution on our strategy, which continues to enhance shareholder value.”

Source: Gaming for Africa