Sunlight Worldwide has claimed its money benefits for complete-12 months 2023, highlighting a 7% expansion in earnings (perceived to generally be the equivalent of earnings) to R12.1bn (US$0.5bn).

The gaming sector in South Africa grew for a third successive 12 months to R55.8bn in 2023, a very important metric considering 76.eight% of Sun Worldwide’s full group cash flow emanates from its gaming revenue.

For its gaming profits, the team recorded a 3.3% raise, with On line casino earnings observing just a slight one% fall in its variety.

On the lookout closer at its brand names, SunBet realized record revenue and profitability, with its cash flow during 2023 up 116.2% when compared to the calendar year prior. These positive numbers for the online betting brand name indicate it is actually exceeding its 5-calendar year targets for growth.

Sun City set a record throughout the yr too for modified EBITDA, pre-management charges of R455m, although resorts and lodges cash flow greater by seventeen.4%, with Sunlight City reaching document profitability and net positive cash flow contribution to the team.

In the report on the 2023 fiscal final results from Sunlight International, it reported: “Our success Yet again exhibit that Sunlight International has a novel integrated portfolio of significant-excellent gaming and hospitality companies which will continue to provide sustainable earnings and situation us properly for progress.

“SunBet is reaching substantial money expansion and is also exceeding important overall performance indicators. This potent momentum is anticipated to continue with A different significant maximize this 12 months as the small business expands swiftly.

"Our vacation resort and hotel Houses have continued to conduct exceptionally properly, and we anticipate One more excellent year from them in 2024. Over-all, we're observing good expansion in the two money and adjusted EBITDA.”

Sunshine Intercontinental announced the proposed acquisition of Peermont back again in December and, further more to this, the group has explained that it absolutely was put to vote by shareholders at a rare Normal Conference, with shareholders overwhelmingly approving the proposed acquisition.

This proposed acquisition now awaits regulatory approvals. 777pub