VENTUES AFRICA – South Africa-based resort hotel chain and casino, Sun International, on Friday said the third quarter of last year exposed a slackening in the growth of casino revenues.
The JSE-listed company in its latest trading update did not reveal reasons for this slowing down in growth. But it said casino profits were up 3 percent.
The entertainment firm said the group’s Resorts and Hotels division had a brilliant quarter which was boosted by Easter celebrations which fell in March this year.
Occupancies at 60 percent surged 2 percent at an average daily rate of R1 425 ($157), which represents a 13 percent increase from last year.
“Sun City, Wild Coast, Table Bay, Federal Palace and Zambia all had an exceptional quarter with revenues up 17 percent, 29 percent, 25 percent, 41 percent and 23 percent respectively,” Sun International said.
According to Sun International, the group’s new Maslow Hotel was launched profitably and is well-set on attaining its fair share of the Sandton market.
It is understood that Maslo Hotel has now been rated by TripAdvisor as the number two hotel in Sandton, North of Johannesburg.
The group experienced strong growth in room’s income as the company continued to pay attention on cost management which resulted in increased EBITDA margin by 0.6 percent to 28.6 percent.