Sun City Casino. Source: BBC

Sun International Reports 5.5% Revenue Growth in 2023

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.

19 March 2024, 17:00

Finance Africa Social Casino

Finance

Flutter Enters Top 3 Largest Bookmakers in Brazil

28 September 2024, 10:08

DraftKings to Pay $200,000 Fine Over Social Media Post

27 September 2024, 15:41

Star Entertainment Group Reports Financial Downturn

27 September 2024, 10:54

Flutter Entertainment aims to triple profits

26 September 2024, 09:19

US reports growing gambling industry revenues for the month