Sun International, the well-known South African casino operator, gradually reactivates its operations and recorded 73% of last year's total revenues for the same period in the last month, a figure higher than the 33% obtained in July. However, the group is still very affected by the lockdown in Latin America.
Through a press release Sun International has said that all of the company's operations in South Africa have reopened, and Sun City returned to operations in September after restrictions on inter-provincial travel were lifted. In this sense, the Maslow Sandton and Table Bay hotels opened their doors in October and November, respectively. However, the group highlights that, despite the recovery of South African operations, capacity restrictions as security measures against COVID-19 continue to negatively affect revenues.
It should be noted that Shudufhadzo Abigail Musida, recently elected Miss South Africa 2020, is one of the main promoters of the reopening of the Table Bay hotel and its leisure offer. Which is why she accompanied Nico Myburgh, hotel manager, to the significant act that marked the return to operations.
On the other hand, Sun International reported that the operations of Sun Slots and Sun Bet obtained the best results in October. More specifically, Sun Slots achieved 101% while Sun Bet achieved 122% of revenue compared to the same month of October last year.
Likewise, the group agreed to sell its majority stake of 64.94 percent in the Latin American operation Sun Dreams for $ 160 million, which will strengthen its liquidity position and balance sheet.
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