TLDR
- SunBet revenue rose 35.5% year-on-year to R1.18 billion ($73.6 million) in the first half of 2026.
- Sun International’s group income grew 7.4% to R6.58 billion, excluding the Table Bay Hotel.
- CEO Bengtsson says the company is open to acquisitions both inside and outside South Africa.
- SunBet already operates in South Africa, Botswana, and Namibia, and is reviewing Zambia, Kenya, and Ghana.
- Land-based casino revenue grew for the first time in three years, up 1.5% to R3.42 billion.
Sun International says its online betting brand SunBet is set for further growth after a strong first half of 2026. The company reported the results this week, showing gains across both its online and land-based casino businesses.
SunBet’s revenue climbed 35.5% year-on-year to R1.18 billion, or about $73.6 million. That growth outpaced the wider South African online betting market, which grew 19% over the same period.
The gains helped push Sun International’s overall group income up 7.4% to R6.58 billion. That figure excludes the Table Bay Hotel, which the company runs under a separate management deal with IHG.
Back in March, at its Capital Markets Day, Sun International laid out a goal to double SunBet’s share of the South African online market. At the time, SunBet held about 4.5% of that market. The company has not given an update on how close it is to that target.
Expansion Plans
CEO Bengtsson told investors on an earnings call this week that the company sees room for growth through acquisitions. He said Sun International is open to buying out minority stakes in existing operations where the opportunity arises.
He also pointed to possible deals beyond South Africa’s borders. “There might be opportunities to consolidate locally, but there might also be opportunities outside of South Africa,” he said. “We have a very high bar for what we deem to be good investments.”
SunBet already runs in three markets. It launched in Namibia in May, joining its existing operations in South Africa and Botswana, which it entered in 2024. All three markets run on technology from Bede Gaming.
At the March Capital Markets Day, Sun International said it was also looking at potential expansion into Zambia, Kenya, and Ghana.
Product and Sportsbook Growth
Sun International recently rolled out a new user interface for SunBet in South Africa and Botswana. Bengtsson said more updates are planned for the rest of the year.
He pointed to the summer’s World Cup as proof the platform can handle heavy traffic. “We had a very strong World Cup, which shows that our sportsbook can handle larger volumes,” he said.
Casino games still make up around 90% of SunBet’s business, with sports betting accounting for the remaining 10%. Bengtsson said the wider market splits closer to 35% to 40% sportsbook, leaving room for SunBet to grow that side of the business.
He said momentum from the World Cup carried into the second half of the year, even though July saw lower sports activity due to most football leagues being on break.
Sun International’s land-based casino business also returned to growth, the first increase in three years. Revenue rose 1.5% to R3.42 billion, while the company’s market share in South Africa grew 2.3% to 49%.
Gross profit from land-based casinos dipped 0.7% to R2 billion, reflecting higher investment in the segment during the period.
Bengtsson said the improvements are built to last. “The sustainability in the operational improvements and in our market share gains are clearly there,” he said. “Those are real, and they are happening right now.”
He added that Sun International views its land-based and online businesses as connected, with many land-based customers also betting online, though not always through SunBet.
