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Gaming For Africa


Casino International’s Africa partner is the excellent Gaming For Africa magazine, bringing you the continent’s latest developments


given the green light by the Kenya Betting Control and Licensing Board to proceed with operations. The go-ahead was received this week, and the 42-table, 230-slot state-of the art casino featuring the latest slots, tables, equipment and chairs from manufacturers like TCSJOHNHUXLEY, IGT, Novomatic, Aruze, DRGT, Atomic Gaming, Omega & Signature Gaming, EGT and umAfrika is quite unlike anything the region has seen before. The plush and luxurious gaming property is sure to set the high-level benchmark for gaming operators in Africa and will be a key attraction in not only Kenya, but the entire East and Central Africa region. Joseph Pestana, the driving force


Millionaires Casino Nairobi Opens A


frica’s third largest casino in terms of gaming space on a single floor, Millionaires Casino Nairobi, has been


behind the Millionaires’ Group, has brought his signature brand and style to this iconic casino, which is located in the upmarket and expansive Two Rivers Mall. The new property is expected to inject a number of new jobs into the Kenyan economy, as well as drive tourism.


The company’s Country Manager Atilla Torok said : “The Casino returns to quench a thirst that has lasted for five years and specifically for players who want to have a Las Vegas kind of gaming experience, right within East Africa’s largest city, Nairobi.” Torok added that the company’s mission in Kenya is to offer a “Millionaire’s Experience” and make it the biggest casino in East and Central Africa. “Millionaires Casino returns with class and sophistication to close a gap that has remained vacant,” Torok added. The Casino will also be partnering with Capital


Limited Group to undertake its promotional activities. Millionaires Casino Nairobi is part of the internationally recognized Millionaires Gaming Africa Group operating casinos worldwide.


Sun International Achieves Revenue Growth & Reduces Debt Levels


 Group income for the half year increases by 7%


 Group EBITDAR increases by 3%  Time Square, Sibaya and Sun Slots income up 15%, 6% and 13% respectively


 Acquisition of an additional 22.4% interest in Sibaya and 30% in Sun Slots


 SA debt reduced from R9.2- billion at 31 December 2018 to R8.8-billion


 Growth in Latam has been subdued although solid GDP growth prospects for Chile and Peru anticipated


 Business focused, resilient, cash generative


30 OCTOBER 2019 S 7, j


un International released its half year results, reporting group income growth of 7% and


an increase in EBITDAR of 3%. Adjusted headline earnings increased from R115-milion to R172-million, with adjusted diluted headline earnings per share up by 30% to 136c from the prior period. A focus on efficiencies and cost containment and enhancing the guest experience resulted in a 2% increase in South African income while adjusted EBITDAR was up 4% reflecting an improvement in the EBITDAR margin. This was achieved despite a challenging economic environment. In Latam, income increased by 17% and adjusted EBITDA (excluding IFRS


16) was up 1%, with the growth in income and EBITDA driven by the acquisition of Thunderbird Resorts in Peru and the Mendoza Haytt in Argentine. On a comparable basis, income in line with the prior period and adjusted EBITDA decreased by 7%. Sun International CE Anthony Leeming remarked, “The trading environment in South Africa remains extremely challenging, and disposable income remains under pressure. Despite this, management’s continued


focus on improving efficiencies and cost reduction resulted in an improvement in our margins and in EBITDAR. “The ongoing reduction to our debt is most encouraging. In South Africa, our debt reduced from R9.2-billion at 31 December 2018 to R8.8-billion with the group continuing to trade well within its bank debt covenants.” In South Africa, the company finalised agreements to increase its equity interest in Sibaya and Sun Slots. The group’s interest in Sibaya will increase by 22.4% to 87.2% for a consideration of R540-million and its interest in Sun Slots will increase by 30% at a cost of R504-million. As a


Continued on page 32


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