Sun International’s Sunbet overtakes GrandWest Casino in profitability
Sunbet’s revenue reflects the current trend of South Africa’s gambling market, with its online segment projected to grow at a compound annual rate of about 2.19 per cent through 2029.
South Africa.- Sun International’s online betting platform, Sunbet, has emerged as a more profitable entity than the company’s long-standing physical casino powerhouse, GrandWest Casino in Cape Town.
In the first half of 2025, Sunbet reported adjusted EBITDA of R301 million (€15.8m) from a revenue of R874 million (€42.6m), narrowly edging out GrandWest’s adjusted EBITDA of R297 million (€14.5m).
Sun International, a major player in South Africa’s hospitality and gaming sectors, has expanded its online presence over the past five years to capitalise on the burgeoning demand for digital betting. The strategy has paid dividends, with Sunbet’s revenue surging 70.7 per cent year-over-year, driven primarily by a more than 100 per cent rise in slots revenue.
The platform attracted nearly 500,000 new sign-ups during the period, which is almost double the figure from the previous year, while average daily cash deposits climbed to R23.4 million (€1.1m). Company executives attribute this growth to targeted marketing, enhanced user experiences and the integration of popular features like online slots and sports betting, which have resonated with a tech-savvy audience amid widespread mobile adoption.
Sunbet’s revenue reflects the current trend of South Africa’s gambling market, which has generated €3.63bn in gross gaming revenue in 2025 so far, and is seeing impressive growth in its online segment, projected to grow at a compound annual rate of about 2.19 per cent through 2029.
Online betting now constitutes around 70 per cent of the total gaming industry, a reversal from 2010 when physical casinos dominated with an 82 per cent share. This pivot is fuelled by factors such as convenience, accessibility via smartphones and regulatory frameworks that have enabled licensed operators to thrive. However, as online betting booms, the sector faces calls for tighter controls to combat increasing gambling addiction and the proliferation of unregulated platforms.
