Sun International sees strong growth, as urban casinos grew by 41% in 2022.
Sun International reports a record dividend in its full-year results for 2022, with large growth in its alternative gaming businesses.
The adjusted EBITDA margin improved from 28.2% in 2019 to 29.7%. The group said that it would have achieved its target 30% adjusted EBITDA margin, if not for the net diesel costs of R53 million due to load shedding., with overall urban casinos generating an adjusted EBITDA of R2,445 million for the year.
Suns slots delivered organic growth, with over 5,000 Limited Payout Machines being active in the period under review. The group said that it will work with regulators to increase the roll out of LPMs to the 6 500 LPM positions that have been allocated.Moreover, SunBet’s income was up 86% compared to 2021, with growth of 135% in the second half of the financial year. Sun International’s online sports betting and gaming platform continued to grow with more games added to the service.
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