Sun International profit falls

Sun’s South African operations contributed 77% of Group revenue, while other African operations accounted for 10% and the Monticello casino in Santiago, Chile saw its revenue share slip to 13%. Net income in the six months ending Dec. 31 was down 21% to us$28.1m.

The introduction of 218 new slots allowed Monticello to increase its share of the Santiago market to 70.8% but the lingering impact of a smoking ban pushed revenue down 13% . The company is installing more smoking decks and has managed to reduce the revenue decline to 7% in January.

As for Sun’s fledgling online sports betting operation SunBet, the site only launched in November and the company has yet to break its earnings out into a separate column. Sun did say that although the operation was till small, business levels have grown strongly・in a market that has shown strong overall growth. Sun also alluded to the possibility of South Africa passing legislation to allow operators to offer casino games online, noting that 都trategically, Sunbet provides an entry to internet based gaming・should MP Geordin Hill-Lewis find sufficient support in parliament for his online gambling bill.

Looking ahead, Sun’s Latin American ambitions will get a boost from the September opening of its revamped Ocean Club Casino in Panama City, which will feature 600 slot machines and 32 gaming tables split between a main gaming floor and a penthouse Salon Prive. Sun is also applying to build a casino in Colombia featuring 310 slots and 16 tables along with a 284-room five-star hotel.