The revenue for casino games in 2021 increased by 37.6% compared to the previous year, primarily due to the relaxation of lockdown restrictions in March 2021. The gaming segment contributed ZAR6.63bn to this total, marking a 31% growth from 2020. Other revenue also experienced a notable increase of 19.3%, reaching ZAR1.1bn. Specifically, the income from casinos amounted to ZAR4.72bn. In addition, alternate gaming income, which includes Sun’s slot business Sun Slots and its betting business SunBet, rose by 39.1% to ZAR1.42bn. Sun Slots accounted for ZAR1.24bn, while SunBet generated ZAR182m in revenue. SunBet also saw a 41% increase in new player acquisitions compared to 2020.
Insurance receipts, which comprised ZAR517m in Covid-19 interruption claims and ZAR5m in other business interruption claims, reached ZAR522m. No comparative receipts were reported for 2020. Geographically, South African revenue amounted to ZAR7.70bn, a year-on-year increase of 28.3%, while the rest of the world contributed the remaining revenue. Operating costs totaled ZAR7.02bn, reflecting a 5.4% decrease from the previous year. The largest expense category was employee costs, which rose by ZAR62m to reach ZAR1.67bn. Levies and VAT on casino income increased by 34.7%, totaling ZAR1.56bn. Depreciation and amortisation expenses amounted to ZAR863m, ZAR58m lower than in 2020.
The operating profit after accounting for these operating costs reached ZAR1.30bn, representing a significant increase of ZAR2.68bn following a loss in 2020. Other costs amounted to ZAR823m, partially offset by ZAR88m in other income. This resulted in a profit before tax of ZAR574m, a gain of ZAR2.17bn compared to the previous year. After deducting taxes of ZAR192m and considering ZAR2m in losses from discontinued operations, the net profit for the year reached ZAR380m, indicating a noteworthy increase of ZAR2.80bn.
