Sunbet, the online betting platform of JSE-listed Sun International, has sustained its remarkable growth trajectory, with income surging by 60.6% to R1.2 billion for the year ending December 2024. This achievement marks another instance of the platform exceeding its ambitious growth targets.
Sun International, a leading South African casino and hotel group, attributed this success to the rapid expansion of online gaming, driven by technological advancements, shifting social attitudes, and other industry dynamics. However, the company emphasized the need for enhanced compliance monitoring to address the challenges of operating in an increasingly vulnerable digital landscape.
“As responsible corporate citizens, we recognize the additional challenges and responsibilities that come with this evolving environment,” Sun International stated. “We are actively collaborating with regulators and industry partners to strengthen systems and processes, ensuring a fair and responsible gaming experience for all.”
Through its partnership with the South African Responsible Gambling Foundation, Sun International invests in education, research, and support initiatives to promote responsible gaming practices. The company’s omnichannel strategy, which leverages its strong brand and market presence, continues to drive customer retention and expansion.
Sun International’s robust balance sheet provides financial flexibility for strategic investments and sustained dividend payouts at targeted ratios. The group remains committed to strategic planning, efficient capital allocation, cost management, and operational excellence to maintain its growth trajectory and deliver value to stakeholders.
Sunbet, one of the fastest-growing players in the online gaming market, represents a significant growth opportunity for the group. Meanwhile, Sun International’s overall performance underscores the strength of its operating businesses, the resilience of its omnichannel portfolio, and its disciplined execution of strategic initiatives, all of which contribute to increasing shareholder value.
For the year, the group reported a 5.1% increase in continuing income to R12.6 billion, compared to the previous year. Continuing adjusted EBITDA rose by 3.0% to R3.5 billion, while adjusted headline earnings grew by 13.0% to R1.3 billion. This translates to adjusted headline earnings of 531 cents per share, a 13.5% increase from the prior year, showcasing the group’s financial resilience and operational strength.
