CASINO SOUTH AFRICA Sun International pays first dividend in six years 1 year ago Iwo Bulski Post Views: 455 South African entertainment company Sun International announced Monday it will pay its first dividend in six years after the group’s gaming income rose 30% in the first six months of the year. As reported by Bloomberg, the decision to declare an interim dividend of 88 cents ($0.05) per share came after the owner of casinos and hotels, including the Sun City resort northwest of Pretoria, reported a first-half profit after two years of losses, and reduced its overall debt by ZAR 500 million ($29 million) to ZAR 6.6 billion ($390 million). The hotel and casino operator was forced to temporarily close its properties in March 2020 amid lockdown measures due to COVID-19, resulting in a loss for that financial year. Even though the group has benefitted from the resumption of travel and tourism activities, including hospitality, gambling turned out to be the triumph card. It was gaming income from casinos, Sun Slots and online platform SunBet -which make up 82% of group income- that strengthened its financial position. “Casino income has proven resilient and is swiftly recovering from the effects of the pandemic. Income generated from Sun Slots recovered to exceed pre-pandemic levels and SunBet generated record income during the period under review,” – the group stated. Sun International shares were 1% lower in Johannesburg, as the broader South African benchmark index fell 1.7% as of 9:30 am, Monday. “Our operations improved significantly during the first six months of 2022, due to the last pandemic-related restrictions having been lifted and we anticipate that this trend will continue for the remainder of the year. With our ongoing focus on costs and efficiencies, we anticipate a significant improvement in the second half of the year compared to the prior comparative period and consequently strong growth in adjusted EBITDA and earnings per share.” – the company noted. Source: yogonet.com About Post Author Iwo Bulski Issues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. See author's posts Iwo BulskiIssues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. Facebook Twitter LinkedIn Email Print Tags: casino, dividend, South Africa, Sun International Continue Reading Previous Lille closes partnership with 1xBet for the African marketNext Contributing factors to the economic expansion in Africa More Stories CASINO WORLD NEWS Novomatic has appointed Stefan Krenn as a new member of its Executive Board 8 hours ago Iwo Bulski EXPERTS SOUTH AFRICA South Africa lined up to host SiGMA Africa 2024 expo 1 day ago Iwo Bulski CASINO WORLD NEWS Macau: Casinos set for bumper month 2 days ago Szarlot ONLINE SOUTH AFRICA Popular Casino Games In South Africa 5 days ago Szarlot ONLINE SOUTH AFRICA South Africa edging closer to issuing VASP licenses: FSCA official 6 days ago Samuel LOTTERIES SOUTH AFRICA R30 ticket scores unemployed winner R14 million Powerball Plus jackpot 1 week ago Samuel CASINO WORLD NEWS Czech regulator confirms Prague slot machine ban now in effect 1 week ago Iwo Bulski BETTING SOUTH AFRICA FSB and SuperSportBet unveil partnership for tailored South African content 1 week ago Samuel CASINO ONLINE TGCasino Bringing Global Sports Gaming to Africa With TGC Token 1 week ago Samuel CASINO HISTORY Top 7 Biggest Wins in Gambling History 1 week ago Samuel ONLINE SOUTH AFRICA From Bets to Budgets: Affordability and Betting in SA 2 weeks ago Samuel LOTTERIES SOUTH AFRICA LOTTO: The next BIG jackpots for 2024 2 weeks ago Samuel Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.