CASINO SOUTH AFRICA Sun International reports 51% revenue growth 11 months ago Samuel Post Views: 600 Casino income increased a 53%. Income at the resorts and hospitality operations saw a 21% rise, while alternate gaming, including sports betting, skyrocketed with a 97% growth after international sports resumed. South African casino and hotel group Sun International announced on Monday its half-year headline loss narrowed to $475,104, and that it has placed its Eswatini operation into liquidation after it failed to pay creditors. Even though the travel and leisure sector is showing signs of slight recovery, curfew hours, restrictions on serving alcohol and limited demand from international business and leisure travel into the country does not allow a faster pace for the process. The group that runs the Sun City resort, The Maslow Sandton and The Table Bay has reported an adjusted headline loss of $60.4 million in the prior year. Adjusted earnings before interest, tax, depreciation and amortization from continuing operations increased to $50.4 million from $4 million. Casino income rose by 53% to $157 million even though shows, concerts and general entertainment at the casinos are still not allowed. Income at the resorts and hospitality operations rose by 21%, while alternate gaming – including sports betting- skyrocketed after a 97% increase as international sports resumed. Overall group income from continuing operations rose by 51% to $259 million. According to an official statement, Sun International has been looking to exit Eswatini, formally known as Swaziland, since 2016, but it was waiting for final regulatory approvals from the King to sell its 51% stake in Swazispa. Failing to obtain additional funding from shareholders after lockdowns, Swazispa was unable to pay its creditors and its liabilities exceeded its assets, forcing it to be placed into final liquidations, according to the firm. “We couldn’t get the deal done and didn’t have any money to continue operating it. So we can’t keep it anymore,” – Group Chief Executive Anthony Leeming said. Source: yogonet.com About Post Author Samuel I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. See author's posts SamuelI am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. Facebook Twitter LinkedIn Email Print Tags: casino income, South Africa, Sun International Continue Reading Previous Wild Coast Sun gambling license uncertainNext Casino Tax Lowered in Tanzania to 15% More Stories EXPERTS SOUTH AFRICA BMM South Africa gets licensed to provide compliance testing services in Tanzania 18 hours ago Iwo Bulski EXPERTS SOUTH AFRICA GLI Africa expands service offering 20 hours ago Samuel EXPERTS SOUTH AFRICA Illegal slots seized, destroyed in raids 3 days ago Iwo Bulski CASINO Why do people love slot machines? 2 weeks ago Samuel ONLINE SOUTH AFRICA Africa Records a High Number of Gamers 2 weeks ago Iwo Bulski BETTING SOUTH AFRICA South African start-up wagers on peer-to-peer betting 3 weeks ago Szarlot ONLINE SOUTH AFRICA How gambling has evolved world-wide 3 weeks ago Iwo Bulski ONLINE SOUTH AFRICA Online slots go live in South Africa 4 weeks ago Iwo Bulski LOTTERIES SOUTH AFRICA Top Lottery Exec to Face New Corruption Inquiry 4 weeks ago Szarlot ONLINE SOUTH AFRICA South Africa Plans To Regulate Cryptocurrencies 4 weeks ago Szarlot CASINO GAMES Top reasons to play online slot machines. 4 weeks ago Fahad Luyzburg LOTTERIES SOUTH AFRICA R7.5 Billion in Mega winnings up for grabs with Lottoland SA! 4 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.