Sun International announces special dividend following steady casino performance and SunBet growth
Operator reports stable 2025 results, with casino market share gains and strong SunBet growth supporting increased shareholder payouts.
South Africa.- South African gaming and hospitality group Sun International has declared a special dividend after reporting stable financial results for the year ended 31 December 2025, supported by steady casino performance and continued growth from its digital betting platform SunBet.
The company announced a final ordinary dividend of 252 cents per share, bringing the total ordinary dividend for the year to 424 cents per share, an “increase of 6.5 per cent from 398 cents in 2024”, according to Moneyweb.
In addition, the board declared a special dividend of 100 cents per share, equivalent to approximately R256m (€13m), payable from available cash reserves. With the special dividend included, total payouts for the second half of the financial year will reach around R900m (€45m), while the final ordinary dividend alone amounts to roughly R644m (€32m).
Ulrik Bengtsson, CEO of Sun International, said: “In H2, Sun International delivered a solid performance broadly in line with growth achieved in the first half of 2025.”
The announcement was positively received by investors, with Sun International’s share price rising more than 9 per cent to above R40 per share following the release of the results. The announcement follows an earlier trading update in which Sun International forecast a potential 35-40 per cent increase in headline earnings per share.
Financial performance
The group reported income of R12.9bn (€645m) for the year excluding the Table Bay Hotel, representing growth of 7.1 per cent year-on-year.
When including the hotel, which was closed for several months while its owners, the V&A Waterfront, completed a R1bn (€50m) refurbishment, total group income increased 3.2 per cent to R13bn (€650m).
Adjusted headline earnings per share rose 6.4 per cent to 565 cents, up from 531 cents in the previous year, while the company maintained a net debt to adjusted EBITDA ratio of 1.5 times, reflecting what it described as a strong balance sheet position.
Casino market share and online betting growth
Sun International said its land-based casino portfolio increased market share to 46 per cent, up 0.6 percentage points, outperforming a broader decline in the overall market. The group’s online betting platform SunBet recorded a fourth consecutive year of strong growth across key metrics.
According to the company, SunBet income in the second half of the year increased by 79.8 per cent compared with 2024, while active player days rose by more than 70 per cent, reflecting higher engagement among users. Across the company’s resorts and hotels division, excluding the Table Bay Hotel, food, beverage and room revenues increased by 6.9 per cent during the year.
Bengtsson described 2025 as a transition year for the company as it strengthens its digital gaming strategy. He said the group is progressing towards becoming a digitally led, market-leading omni-channel gaming operator, supported by a five-year value creation plan that will be outlined during a capital markets presentation.
The company also reported improving returns from its investment at Sun City Resort, where gaming and hospitality revenues strengthened during the second half of the year.
