SunBet drives growth for South Africa's Sun International with 71.8% income surge

Sun International, the JSE-listed hotel and resort group, reported a 9% increase in earnings for the six-month period ending June 30, 2024, as announced on September 9. The company's online betting platform, SunBet, emerged as a standout performer, achieving remarkable growth.

SunBet's income surged by 71.8%, reaching R512 million, which contributed to a record adjusted EBITDA of R170 million, an increase of 88.9% compared to the previous year. The platform saw a significant rise in active players, with unique active users up by 72.2% and first-time depositors increasing by 111.6%. Overall deposits also rose by 74.2%.

The group emphasized the importance of customer retention alongside acquisition, stating that enhancing the player experience and offering new games were pivotal to its success. SunBet's ongoing investments in user-friendly website improvements and marketing campaigns, particularly linking to the iconic Sun City, aim to solidify its position as a trusted online gaming operator in Southern Africa.

Overall, Sun International reported a total income of R6 billion for the period, marking a 5% increase, with gaming income, which constitutes 77.4% of the group's revenue, growing by 3.4%. The casino income from the largest urban casinos rose by 2.2%, although growth in smaller regional casinos faced challenges.

Sun International is a leading South African gaming and hospitality company, founded by Sol Kerzner, that operates a diverse portfolio of properties, including luxury hotels, casinos, and resorts. 

SunBet, the online gaming platform of Sun International, has rapidly emerged as a significant player in the digital gaming market, achieving remarkable growth in user engagement and revenue. It offers a wide range of betting options and is committed to providing a user-friendly experience while maintaining a focus on responsible gaming practices.