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South African Casino
News |
Sun International Revenues
up 6%
Local South African resort
and casino giant, Sun International, has released their
revenue results for the period July to December 2008.
Despite the current economic
debacle and the mass losses of the new Johannesburg based
Monticallo Grand Casino in their first quarter of operation,
the group reported a 6% increase in revenue to R4 billion.
Hospitality revenue increased 10% overall and the gaming
division reported 5% growth.
These unexpected results
follow on Sun International’s struggles to raise financing
for their planned international expansion, especially in
South America) and the group has delayed the $167 million
refurb of Nigeria’s Federal Towers Hotel.
The group has gone ahead
with the $28 million investment in the company that owns
and operates the temporary casino in Lagos. CEO David Coutts-Trotter
was reported as saying “We are still committed to
the project and still believe in it but we are taking smaller
steps in the meantime."
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