Sun International Ltd. posted interim results for the six months ended June 30, 2026, showing an 8% year‑on‑year increase in adjusted earnings per share. Land‑based casino gross gaming revenue (GGR) rose 4.4% YoY, ending a three‑year decline, while net gaming revenue (NGR) grew 1.5%.
The company's online betting arm, SunBet, delivered revenue growth of more than 35% and saw active customer days increase by a similar margin. Management highlighted a newly launched SunBet front‑end that improves the user experience.
Debt to EBITDA stood at 1.6 times at the end of June, below the long‑term target of 2.0 times. The firm completed 2% of its three‑year share‑buyback programme and reaffirmed a dividend payout of 75% of earnings.
South American disposal payments of roughly ZAR 174 million remain due in September and November 2026, with a final tranche of about ZAR 50 million expected in May 2027. The GrandWest precinct project is receiving ZAR 600 million in joint investment to develop an adjacent mall, and the liquidation of the Royal Swazi Spa stake generated ZAR 50 million.
Sun International's stock rose 2.46% to $4,920, trading about 13.5% below its 52‑week high of $5,665. The 52‑week range is $3,619 to $5,665.
CEO Ulrik Bengtsson said the company is encouraged by the trajectory, noting the first growth in land‑based casinos after three years and the strong performance of SunBet. CFO Norman referenced the Sibaya disposal as a regulatory requirement tied to a local empowerment shareholding.
When asked about a potential acquisition of Peermont, the CEO responded that the company is not pursuing a deal at this time.
