Time Square Casino investment is gaining market share says Sun International
Sun City owner Sun International says while there is little revenue growth due to the subdued economic climate in South Africa the big investment its made in Time Square Casino is gaining market share.
The group shared its results for the year to end June.
Income from SA operations rose 2% to R5.5bn, while income from Latin America jumped 17% to R2.8bn.
Group CEO Anthony Leeming says tightening costs, maintaining efficiencies and working really hard to do things right has added significant value to the bottom line.
It has been very tough, there is not much revenue growth and that is the biggest problem. Fortunately our big investment we made in Time Square is starting to gain traction, gaining market share and that is helping a lot to add revenues whereas other places are going backwards.Anthony Leeming, CEO - Sun International Group
In Chile it has also been a bit of a subdued economy. Peru came out through alright.... so a bit of the highlights of revenue growth is partly to do with acquisitions.Anthony Leeming, CEO - Sun International Group
The performance of its casinos in SA has seen an income rise of 13% at Sun Slots, while Sun City's revenue fell 6% and Wild Coast Casino's 9%.
Speaking on Sun City's results, Leeming says they are down in nearly all segments.
At Sun City we down in nearly all segments - whether it be conferencing, leisure, international.. maybe all segments. There is a widespread feeling the economy is really subdued - corporates holding back on expenditure, people spending less when they do come....Anthongy Leeming, CEO - Sun International Group
Having said that, we really are working hard to make sure the experience has improved.Anthongy Leeming, CEO - Sun International Group
Click on the link below for the full interview...
This article first appeared on 702 : Time Square Casino investment is gaining market share says Sun International
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