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Sun International Declares Growth
9 march 2009
by Kiara Miller

Sun International, the South African resort and casino giant, has declared a 6% increase in revenue for the period July to December 2008. Despite the current global economic recession and the mass losses of the new Johannesburg based Monticello Grand Casino within the first quarter of operation, the group reported a 6% increase in revenue to R4 billion. Hospitality revenue increased 10% overall and the gaming division reported 5% growth. These unexpected results follow on Sun International’s struggles to raise financing for their planned international expansion, especially in South America) and the group has delayed the $167 million refurb of Nigeria’s Federal Towers Hotel. The group has gone ahead with the $28 million investment in the company that owns and operates the temporary casino in Lagos.

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