Sun International, the prominent South African gambling company, has announced a 5.5% increase in revenue for the fiscal year 2023. The organization reported earnings of $643.3 million (approximately R12.10 billion) for the year, buoyed by record performances from its bookmaker division, SunBet.
The revenue generated over the 12-month period ending on December 31, 2023, marked a 7% rise compared to the previous period, totaling R11.3 million. Sun International attributed this growth to the resilience of its brand portfolio and the disciplined execution of its strategic initiatives. However, analysts note that the company's performance varied across different segments of its business.
While SunBet and the Sun City casino reported outstanding results with a 14.8% increase in earnings, other segments, such as slot machines and certain gambling establishments, experienced declines in revenue. Despite this mixed performance, Sun International remains optimistic about its overall trajectory and is committed to adapting its strategies to navigate market dynamics effectively.
