South African casino operator Sun International has reported income up seven per cent in the half-year with EBITDA up three per cent.
The slots income at locations Time Square, Sibaya and Sun Slots were up 15 per cent, six per cent and 13 per cent respectively. Earnings increased from R115m to R172m (€7.1m to €10.6m), reports the company and it goes on to outline good reports from its Latin American operations where income was up 17 per cent and adjusting EBITDA up one per cent, driven by the acquisition of Thunderbirds Resorts in Peru and the Mendoza Hyatt in Argentina.
CEO Anthony Leeming said: “The trading environment in South Africa remains extremely challenging and disposable income remains under pressure. Despite this, management’s continued focus on improving efficiencies and cost reduction resulted in an improvement in our margins and in EBITDA.”
He said that the reduction in its South African debt from R9.2bn at the end of 2018 to R8.8bn (€569.9m to €545.1m) was ‘”most encouraging.”
