Sun International is seeking to double its online market share in South Africa, where its Sun Bet brand currently maintains a 4.5% share, the fourth-highest in the market. The country’s online GGR is expected to roughly double in value to around R100 billion by 2030.
Speaking to analysts during its Capital Markets Day presentation on Monday, Group CEO Ulrik Bengtsson said the company would be “more aggressive” in its efforts to gain market share, by focusing on product improvement and development.
Its sports betting offering currently makes up around 30% of South Africa’s total online market, the company reported.
Sports betting accounts for less than 15% of the brand’s online GGR, although the company expects to grow this as it improves on the product.
“The good news is we’re doing really well without being best in class in some of these areas, so we are pretty confident that we have a good chance to reach those targets,” Bentgsson added.
Bengtsson said the company observed a “tremendous value creation opportunity”.
FY25 group income up 7%
Meanwhile the group also reported a 7.1% rise in group income during FY25 yesterday, as a strong H2 for its Sunbet online brand offset declines in its land-based performance.
Sun International‘s group income increased to R12.9 billion ($771.1 million) when excluding the impact of its lease cessation for the Table Bay Hotel.
The Table Bay Hotel in Cape Town closed in February 2025 for renovations and reopened in December as the InterContinental Table Bay, which Sun is running under a management agreement with IHG.
The company posted an adjusted EBITDA of R3.4 billion, a 1.7% decrease from the previous year, though this included the effects of its lease cessation for the Table Bay Hotel. With that impact excluded, Sun International’s adjusted EBITDA rose by 2.8%.
Sun International’s FY25 was powered by strong performance from Sun Bet, which posted H2 income 79.8% higher year-on-year. Income from Sunbet across the full year rocketed 75.9% to R2.1 billion, while its adjusted EBITDA also more than doubled to R744 million, a 109.6% rise.
Bengtsson described 2025 as a “transition year” as the business made progress on its plans to become a “market leading omnichannel gaming company”.
Bengtsson said: “As part of our vision to be a digitally-led organisation, significant work has gone into building our digital and technology capabilities.
“2026 has started well across the group and we are making good progress on our value creation plan and green shoots have emerged which confirm that our strategy is gaining traction.”
Bengtsson also explained that Sun International’s FY26 start had been in line with the income growth seen in H2/25.
Land-based down but ahead of the market
Sun Bet’s strong performance helped to offset declines in Sun International’s land-based casino segment.
Land-based casino income across FY25 was down 2.7% to R6.5 billion, while adjusted EBITDA also dropped to R2.1 billion, down 8.7%.
Despite this, Sun International gained approximately 0.7% in market share up to 46% of the total land-based market, due to declines observed across the sector. According to Sun International, South Africa land-based casino GGR fell by 6.3% during the 12-month period.
Sun International’s figures were boosted by a 4% GGR rise in Q4, its highest growth rate since Q2 2023.
Opportunities for growth in sports betting
Sun International highlighted FY25 was the fourth consecutive year in which it had delivered continuing strong income and growth across all of its key metrics.
The company has invested in personnel to boost its capabilities, with ex-Games Global CTO Leslie Peters joining as chief technology and product officer, while former Genting Casinos Managing Director Mark Sergeant became COO of its gaming segment.
Original article: https://igamingbusiness.com/finance/digital-focus-sun-international-fy2025-income-growth/
