SunBet revenue climbed 35.5% year-on-year in the first half to R1.18bn, nearly double the 19% growth rate of the South African online market overall. Parent company Sun International reported group revenue up 7.4% to R6.58bn ($411.9m), with adjusted EBITDA rising 2% to R1.59bn.
CEO Ulrik Bengtsson attributed the online performance to the launch of a proprietary platform and new interface in South Africa and Botswana. Active gaming days rose 32.3% and first-time deposits by 17.5%. Slots and casino drove growth among existing customers, while sports betting gained traction. In March the company said it aimed to double market share; current figures have not been disclosed.
Sun International's land-based segment returned to growth for the first time in three years. Casino revenue edged up 1.5% to R3.42bn and market share climbed 2.3 percentage points to 49%. GGR across the estate rose 4.4% following the installation of 876 new slots and stadium games. Gross profit in the segment fell 0.7% to R2bn as marketing spend increased.
Capex rose from R277m to R492m. Sun International has opened consultations under Section 189A, the procedure for retrenchments at companies with more than 50 staff, as it moves to a centralised operating model. The group is deploying a Casino Lite format for underperforming properties and says it will redeploy personnel within the business where possible. Revenue in the early weeks of the second half ran ahead of the 6–8% guidance.
