Get to know your JSE companies: SUN INTERNATIONAL LTD (JSE: SUI)

Sun International Limited is a gaming and hospitality company. The company owns and operates casino, hotel and resort properties in South Africa, other African countries and Latin America. The group’s operating segments include South Africa, Nigeria and Latin America.

The company recently released its interim results for the period ended 30 June 2020. Earnings were heavily impacted by the COVID-19 outbreak with all the group’s operations not operating from March 2020 up to 30 June 2020. The group reported that its consolidated income was down by 56% to R3.7 billion (1H2019: R8.5 billion), and headline earnings declined by R172 million to a loss of R885 million.

On 11 August 2020, Sun International announced the results of its R1.2 billion partially underwritten renounceable rights offer of 127 174 696 shares at a subscription price of R9.44 per share.

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