Gambling and hospitality group Sun International reported higher group income supported by strong performance from its betting platform and continued resilience across its casino operations.
Group income increased by 3.2% to R13-billion for the year ended December 31, compared to the previous year. When excluding the impact of the Table Bay Hotel lease cessation, income increased by a stronger 7.1% to R12.9-billion.
The improved revenue performance came despite a difficult environment for the broader gaming market. Sun International land-based casino operations outperformed the sector, allowing the group to increase its market share.
Ulrik Bengtsson, Sun International chief executive, said last year marked an important transition period as the company works towards building a more digitally driven gaming business.
One of the major drivers of income growth was the online betting platform, Sunbet.
Income from the platform surged in the second half of the year, increasing by nearly 80% compared with the same period in 2024, while active player days increased by more than 70%.
“Our 2025 land-based casino performance was significantly ahead of the market as a result of optimisation initiatives implemented on tables and slots. Our gross gaming revenue (GGR) on a comparable basis declined by 2.6% but outperformed the rest of the market (which fell by 6.3%), resulting in a 0.6% increase in market share to 46%.
“In particular, we saw a positive performance in the last quarter of the year, where we grew GGR by 4%, our highest growth rate since Q2 2023 against a continued market decline,” said Bengtsson.
Sun Slots continued to show steady growth, with income increasing in the second half of the year following the rollout of new Type B licence sites in the Western Cape.
Despite the income growth, profitability faced some pressure as adjusted EBITDA declined slightly by 1.7% to R3.4 billion, although it would have risen by 2.8% if the impact of the hotel lease cessation were excluded.
However, the group maintained strong cash generation and a solid balance sheet, with net debt falling to R5 billion from R5.2 billion a year earlier. Lower debt levels and improved financing conditions also helped reduce net interest costs by 19% year-on-year.
Bengtsson said the group had started 2026 on a positive note, with income growth so far this year tracking in line with the second half of 2025.
The company also rewarded shareholders with a final cash dividend of R2.52 per share and a special dividend of R1 cents per share.
