Sun International, South Africa’s leading casino operator, has become the first African-based gaming company to enter the GBGC 50 Index – Global Betting and Gaming Consultants’ index of the 50 largest gambling companies by gambling market capitalisation .
Sun International entered the GBGC 50 Index at number 36, just above Churchill Downs.
Sun International earned 78% of its revenues from South Africa in 2011, with the group’s total revenue from all operations rising by 12% to R8,892 million. Operating profit fell by 2% to R1,705 million.
Sun International’s casino revenues grew by 12% to R6,981 million, accounting for 78.5% of all revenues.
The company runs a number of casinos and resorts across southern Africa, including the Sun City resort in South Africa’s North West province.
• The GBGC 50: consists of the 50 largest gambling companies by their gambling market capitalisation.
The total gambling market cap (i.e. market cap adjusted for share of revenues derived from gambling) of the 50 largest gaming companies in January 2012 decreased by 5% compared to April 2011, to US$185.3 billion.
Between January 2011 and January 2012 the GBGC 50 Index fell from 121.0 to 118.4, a decline of 2.1% over the course of 12 months. This, however, was a better performance than the iGBGC Index of I-gaming companies which fell by 7.7% over the year from 269.1 to 248.5.
The best performer in the GBGC 50 Index was Galaxy Entertainment, which saw its share price rise 53% over the year. The company opened its new Galaxy Macau casino in May 2011. Close behind Galaxy Entertainment was Kingston Financial (formerly Golden Resorts), which owns two casino hotels and offers entertainment services in Macau (up 51%), Irish-based bookmaker Paddy Power (up 46%) and Macau casino operator Melco Crown (up 45%).