Strategic transactions in Sibaya (87.2%) and SunSlots (100%)
Sun International increased its equity interest in Sibaya from minorities to 87.2% by effectively acquiring a 23.9% equity interest for R593 million.
SunSlots is part of the group’s alternative gaming strategy. SunSlots holds six licences in four provinces: Gauteng, KwaZulu-Natal, Mpumalanga and the Western Cape.
It has over 4 300 LPMs across 840 sites. In 2019, SunSlots increased its gross gambling revenue (GGR) by 13% to R1.3 billion (2018: R1.2 billion). The average GGR per machine per day of was up 5% to R873 (2018: R833), largely due to product improvements at existing outlets and additional revenue from new sites.
During 2018, over 400 machine licence applications were submitted to the gaming boards for approval across our various SunSlots units. Encouragingly the bulk of type B licences were approved (secured) for the first time in KwaZulu-Natal, which will allow for the rollout of up to 40 LPMs. This will fill the demand for additional gameplay and improve LPM revenues. In the Western Cape we secured an additional 500 LPM licences, bringing the total allocation to 1 500.