# Sun International Shines with Record Online Gaming Performance and Increased Dividend
Friday, 13 September 2024
Sun International, a leading [casino and resorts](https://southafricancasinos.co.za/casino-resorts.html "casino and resorts") group in South Africa, has reported impressive results for the first half of 2024, driven by record growth in its online gaming division, Sunbet, and a rise in its interim dividend. The company saw its income rise by 5% to R6 billion, with adjusted headline earnings up 9% to R524 million.
Sunbet, the group’s online gaming platform, posted a 72% increase in income, reaching a record R512 million. This stellar performance has positioned the group to explore further expansion in both South Africa and Africa, as they anticipate continued growth in the online space. Despite challenges in smaller regional properties, Sun International remains committed to enhancing customer experiences and pursuing growth strategies across its portfolio
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## Record Growth in Online Gaming, but Challenges Remain
While Sunbet experienced substantial growth, Sun Slots, the limited-payout machines division, faced a 4% income drop to R686 million. The group, which operates over 5,000 limited-payout machines, has been lobbying for regulatory changes, including an increase in the maximum payout, which has remained unchanged since 2003. CEO Anthony Leeming expressed optimism, stating that changes are almost guaranteed, which would make the machines more competitive.
## Strong Performance from Resorts and Hotels
Sun International’s resorts and hotels, including iconic properties like Sun City and Table Bay, also delivered solid results, with a 6% increase in total income to R1.5 billion. The group saw double-digit growth in all but one of its resorts, bolstered by a rise in international travel and a renewed focus on enhancing customer experiences.
The group is pressing ahead with refurbishments and upgrades, including at its GrandWest Casino and Sun City. It also recently announced plans for a R7.3- billion acquisition of Peermont, the owner of Emperors Palace, expected to be completed in early 2025.
## Future Prospects and Regulatory Changes
Sun International is eyeing further growth, particularly in the online space. While Sunbet has already grown strongly, Leeming believes the platform still has a significant market share to gain, predicting that its contribution could double or triple in the coming years.
The group’s lobbying efforts to update the R500 maximum payout for limited- payout machines, unchanged for over two decades, are expected to pay off soon, further enhancing its gaming offerings.
## Conclusion
Sun International’s strong half-year performance reflects its strategic focus on growth and innovation, particularly in the online gaming space. While some challenges remain, such as the performance of smaller regional casinos, the group is well-positioned for continued success, driven by regulatory changes, customer experience enhancements, and the upcoming Peermont acquisition.
Shares in Sun International rose by 4% following the announcement, reflecting investor confidence in the group’s growth trajectory.