Sun Global stories R12.1bn cash flow for 2023

Sunlight Worldwide has noted its financial results for whole-year 2023, highlighting a seven% development in money (perceived to get the equal of income) to R12.1bn (US£0.5bn).

The gaming market place in South Africa grew for a third successive yr to R55.8bn in 2023, a vital metric looking at 76.8% of Solar International’s overall team revenue emanates from its gaming earnings.

For its gaming cash flow, the team recorded a three.3% enhance, with On line casino income viewing merely a slight one% fall in its amount.

Wanting nearer at its brands, SunBet reached history income and profitability, with its revenue through 2023 up 116.two% in comparison with the 12 months prior. These favourable numbers for the online betting brand suggest it truly is exceeding its 5-12 months targets for advancement.

Solar Town established a history during the year also for adjusted EBITDA, pre-management fees of R455m, whilst resorts and accommodations revenue enhanced by 17.4%, with Sun Town achieving history profitability and Web favourable dollars stream contribution to your group.

Inside the report from the 2023 monetary results from Solar Intercontinental, it claimed: “Our benefits Once more demonstrate that Solar Global has a singular built-in portfolio of significant-excellent gaming and hospitality firms that can carry on to provide sustainable earnings and placement us nicely for advancement.

“SunBet is accomplishing considerable earnings advancement and is also exceeding important performance indicators. This solid momentum is expected to carry on with An additional considerable improve this calendar year because the business expands speedily.

"Our vacation resort and hotel Houses have continued to complete extremely effectively, and we foresee A different great 12 months from them in 2024. Overall, we're observing positive progress in both of those revenue and altered EBITDA.”

Solar Worldwide introduced the proposed acquisition of Peermont again in December and, further to this, the group has explained that it absolutely was set to vote by shareholders at an Extraordinary Basic Assembly, with shareholders overwhelmingly approving the proposed acquisition.

This proposed acquisition now awaits regulatory approvals. 777pub