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South African Casino Revenues Up

6 Mar 2006

SOUTH AFRICA – As reported by the South African Herald Online: "Revenue at the Boardwalk casino complex on the Port Elizabeth beachfront increased by 15% for the half year ended on December 31, as more foreign tourists descended on the city and South Africans splashed out more of their hard earned cash.

"The casino complex's earnings before interest, taxes, depreciation, and amortisation (Ebitda) also rose by 20% during the same period.

"On Friday, Sun International chief executive Peter Bacon attributed the increase in revenue at the Boardwalk to a combination of factors.

"These included increased market penetration, a stronger local economy, and more international tourists visiting the city as more cruise ships docked at the harbour.

"…In total the Sun International group revenue came in at R2,9-billion, 17% ahead of last year, which combined with an improvement in margins resulting in a 23% increase in Ebitda to R986-million…"

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