South African operator Sun International is exploring M&A deals and new-market entry to grow its online brand SunBet. CEO Anthony Bengtsson outlined the strategy on the first-half earnings call.
SunBet revenue in H1 rose 35.5% year-on-year to ZAR 1.18 billion ($73.6 million), outpacing the 19% average growth of South Africa's online market. In March Sun International set a target to double SunBet's share of the local online market from the current 4.5%. The company sees "multiple inorganic opportunities" — both consolidating local assets and expanding beyond South Africa.
In May SunBet launched in Namibia on the Bede Gaming platform, which also powers the product in South Africa and Botswana (entered in 2024). Sun International is evaluating entry into Zambia, Kenya and Ghana. SunBet recently updated its interface in South Africa and Botswana, with further improvements planned for the second half.
Product mix
Casino currently accounts for 90% of SunBet's structure, sports betting 10%. Bengtsson calls this a lag: he estimates sports should deliver 35–40% on the market. The company intends to close the gap through product and operational improvements in sports. The World Cup showed the platform can handle high volumes, and momentum continues into the second half.
Sun International's land-based segment posted growth for the first time in three years: casino revenue rose 1.5% to ZAR 3.42 billion, market share in South Africa increased 2.3 percentage points to 49%. Bengtsson noted synergy between offline and online: most land-based customers play online, but not all with SunBet. The company sees this as a growth reserve.
