Sun International is considering M&A opportunities for its online brand SunBet in South Africa and overseas markets. SunBet revenue grew 35.5% year on year to R1.18 billion ($73.6 million) in the first half, outpacing the 19% growth rate of South Africa's online market.
CEO Ulrik Bengtsson said the company sees "multiple inorganic opportunities", including consolidation of minority stakes and SunBet expansion. Besides local deals in South Africa, the group is looking at options outside the country, though the bar for investment is high.
SunBet entered Botswana in 2024 and Namibia in May; Bede Gaming provides the platform in those markets and South Africa. Sun International is also studying Zambia, Kenya and Ghana. At its Capital Markets Day in March, the company said it plans to double SunBet's share of South Africa's online market from 4.5%, but has not disclosed updated figures.
Casino accounts for around 90% of SunBet revenue, sports betting for 10%. Bengtsson noted the company lags on its sports product, even though sports represents 35–40% of the market. The sportsbook handled higher volume during the World Cup but has not reached the required level.
Sun International's land-based business posted revenue growth for the first time in three years, up 1.5% to R3.42 billion. Market share in South Africa rose 2.3 percentage points to 49%. Bengtsson said the company increasingly views land-based and online operations as a single customer ecosystem: some casino visitors do not yet use SunBet, leaving room to capture their online spend.
