Sunbet Revenue Soars 60.6%, Surpassing Growth Targets Again

Sunbet, an online betting company acquired by Sun International in 2023, has experienced remarkable growth. In the fiscal year ending December 2024, the company reported a substantial revenue increase of 60.6%, reaching R1.2 billion. This achievement represents a significant milestone in Sunbet’s impressive development and exceeds the financial expectations set for the previous year.

The ongoing success of Sunbet is attributed to Sun International’s strategic approach, as highlighted in the company’s recent release. The surge in revenue can be closely linked to the rapid expansion of online gaming, which is fueled by technological advancements and growing societal acceptance. Sun International emphasized the necessity of enhancing its compliance monitoring to navigate the complexities of operating within a vulnerable digital landscape. This strategic focus has played a crucial role in the company’s financial achievements in recent years.

Demonstrating its commitment to responsible gaming, Sun International stated that it acknowledges the additional challenges posed by the evolving gaming environment. The company is actively collaborating with regulators and industry partners to strengthen systems and processes, ensuring that all players have a fair and responsible gaming experience. In partnership with the South African Responsible Gambling Foundation, Sun International has dedicated resources to promote responsible gaming practices through education and research initiatives.

Moreover, Sun International’s omnichannel approach has proven to be effective in client retention and business expansion, leveraging its substantial market presence. The company’s robust balance sheet also offers financial flexibility for strategic investments and sustained dividend payouts. Sun International remains committed to strategic planning, efficient capital allocation, and operational excellence to continue its growth trajectory while delivering value to its stakeholders.

Sunbet has emerged as a significant player in the gaming industry, representing a promising opportunity for revenue growth within the group. The recent achievements underscore the strength of Sun International and its subsidiaries, as well as the successful execution of clearly defined strategic objectives.

Reflecting the overall resilience of the business, Sun International announced an annual income of R12.6 billion, a 5.1% increase from the previous year. Furthermore, the adjusted EBITDA rose by 3.0% to R3.5 billion, and Sunbet’s income growth of 60.6% underscores its strong performance. As a result, shareholders can expect dividends and returns of 398 cents per share, which represents a 13.4% increase. These figures highlight the group’s robust financial stability and operational capabilities. Additionally, a recovery in domestic and international tourism is anticipated to further benefit Sun International’s diverse range of hotels and resorts.