Sun International Ltd., an investment and management company of hotels, resorts and casinos, reported 3 percent total revenue growth in its first quarter compared to the same period last year.
The South African company said in its financial report that this slight growth reflects “the current economic environment.”
Casino revenue was up only 1 percent. Hotel rooms generated a 13 percent revenue rise, while food and beverage was up 8 percent. The overall earnings before interest, taxes, depreciation and amortization margin of 33.5 percent was down 1.5 percent. The company attributed this to lower revenue performances from the major casino properties.
“However, given the pressures on costs due to the current inflationary environment, this is a satisfactory achievement,” the company said in its report.