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South African Casino News

Sun International Revenues up 6%

Local South African resort and casino giant, Sun International, has released their revenue results for the period July to December 2008.

Despite the current economic debacle and the mass losses of the new Johannesburg based Monticallo Grand Casino in their first quarter of operation, the group reported a 6% increase in revenue to R4 billion. Hospitality revenue increased 10% overall and the gaming division reported 5% growth.

These unexpected results follow on Sun International’s struggles to raise financing for their planned international expansion, especially in South America) and the group has delayed the $167 million refurb of Nigeria’s Federal Towers Hotel.

The group has gone ahead with the $28 million investment in the company that owns and operates the temporary casino in Lagos. CEO David Coutts-Trotter was reported as saying “We are still committed to the project and still believe in it but we are taking smaller steps in the meantime."

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