Edition:
United States

Sun International Ltd (SUIJ.J)

SUIJ.J on Johannesburg Stock Exchange

5,890.00ZAc
7:46am EDT
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5,900.00
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Latest Key Developments (Source: Significant Developments)

Sun International Says Will Not Declare Dividend For Year Ended Dec. 31​
Monday, 19 Mar 2018 02:00am EDT 

March 19 (Reuters) - Sun International Ltd ::‍BOARD HAS DECIDED NOT TO DECLARE A DIVIDEND FOR YEAR ENDED 31 DECEMBER 2017.​.FY REVENUE OF ‍15.61 BILLION RAND VERSUS 13.88 BILLION RAND YEAR AGO.FY ‍DILUTED ADJUSTED HEADLINE EARNINGS PER SHARE 298 CENTS VERSUS 503 CENTS​.FY PROFIT BEFORE TAX FROM OF 535 MILLION RAND VERSUS 542 MILLION RAND YEAR AGO.‍WHILE SOUTH AFRICAN OUTLOOK HAS IMPROVED, DO NOT ANTICIPATE THAT IT WILL BE IMMEDIATELY FELT IN DISCRETIONARY EXPENDITURE ​.‍WITH PROCEEDS FROM RIGHTS OFFER, CO WILL SETTLE DEBT AND CAPITALISE TIME SQUARE WHICH WILL SIGNIFICANTLY REDUCE INTEREST COST​.‍ALTHOUGH TRADING HAS IMPROVED MARGINALLY AT TIME SQUARE, GROUP MET ITS DEBT COVENANTS AT DEC 31, DEEMED IT PRUDENT TO EMBARK ON CAPITAL RAISE EXERCISE.‍PROCEEDS FROM RIGHTS OFFER WILL BE USED TO REPAY DEBT, THEREBY CREATING HEAD ROOM IN RELATION TO RELEVANT DEBT COVENANTS​.‍RIGHTS OFFER WILL REDUCE SUN INTERNATIONAL'S INTEREST CHARGE AS RATES ARE BASED ON SUN INTERNATIONAL'S PREVAILING DEBT METRICS​.‍GROUP CONTINUES TO GENERATE STRONG CASH FLOW FROM OPERATIONS, WHICH HAS RESULTED IN GROUP TRADING WITHIN DEBT COVENANT LEVELS.​.ON DIFFICULT TRADING CONDITIONS, TIME SQUARE PRODUCING DISAPPOINTING RESULTS, RENEGOTIATED SOUTH AFRICAN DEBT COVENANT LEVELS FOR JUNE, DEC 2017​.  Full Article

Sun International Sees FY Headline Loss Of Between 161-196 Cents Per Share ​
Friday, 9 Mar 2018 10:00am EST 

March 9 (Reuters) - Sun International Ltd ::SUN INTERNATIONAL - HEPS FOR FINANCIAL YEAR ENDED 31 DECEMBER 2017 IS EXPECTED TO BE A LOSS OF BETWEEN 161 CENTS PER SHARE AND 196 CENTS PER SHARE​.SUN INTERNATIONAL - ‍FY ADJUSTED DILUTED HEADLINE EARNINGS PER SHARE IS EXPECTED TO BE A PROFIT OF BETWEEN 268 CENTS PER SHARE AND 328 CENTS PER SHARE​.SUN INTERNATIONAL - ‍EARNINGS WERE IMPACTED BY NOT ACCOUNTING FOR FULL DEFERRED TAX ASSET ON LOSSES OF SUN TIME SQUARE.SUN INTERNATIONAL LTD - ‍ EARNINGS ALSO WERE IMPACTED BY GROUP HAVING TO CONSOLIDATE BEE TRUSTS' 10% INTEREST IN SUN TIME SQUARE​.SUN INTERNATIONAL LTD - ‍BOARD HAS DEEMED IT PRUDENT TO EMBARK ON A CAPITAL RAISE EXERCISE OF R1.5 BILLION IN ORDER TO DE-RISK COMPANY'S BALANCE SHEET​.SUN INTERNATIONAL - ‍PROCEEDS FROM PROPOSED RIGHTS OFFER WILL BE USED TO REPAY DEBT, THEREBY CREATING HEADROOM IN RELATION TO RELEVANT DEBT COVENANTS​.  Full Article

Sun International says ‍Superintendencia De Casinos De Juego approves proposed acquisition of 50% intereest in Sun Latam Spa​
Wednesday, 15 Nov 2017 10:40am EST 

Nov 15 (Reuters) - SUN INTERNATIONAL LTD :SUPERINTENDENCIA DE CASINOS DE JUEGO, CASINO REGULATOR IN CHILE HAS APPROVED PROPOSED ACQUISITION OF 50% INTEREEST IN SUN LATAM SPA​.‍ALL CONDITIONS PRECEDENT PERTAINING TO PROPOSED ACQUISITION BEEN FULFILLED OR WAIVED, TRANSACTION HAS BECOME UNCONDITIONAL​.  Full Article

Sun International unit concludes share purchase agreement with Thunderbird Resorts, Casinos Peruanos​
Wednesday, 11 Oct 2017 02:55am EDT 

Oct 11 (Reuters) - Sun International Ltd ::UNIT ‍SUN DREAMS S.A. HAS ENTERED INTO AND CONCLUDED SHARE PURCHASE AGREEMENT WITH THUNDERBIRD RESORTS INC. AND CASINOS PERUANOS​.SUN INTERNATIONAL - ‍PURCHASE PRICE PAYABLE FOR DEAL IS US$ 26 MILLION WHICH INCLUDES CERTAIN IMMOVABLE PROPERTY VALUED AT US$ 10 MILLION​.‍SUN DREAMS HAS AGREED TO ACQUIRE FROM SELLERS 100% OF CERTAIN PERUVIAN COMPANIES​.SUN INTERNATIONAL LTD - ‍"SUN INTERNATIONAL BOARD HAS DEEMED IT PRUDENT TO PROCEED WITH PROPOSED ACQUISITION​".  Full Article

Sun International ‍HY revenue up 19 pct to 7.6 bln rands
Friday, 29 Sep 2017 11:46am EDT 

Sept 29 (Reuters) - Sun International Ltd ::SUN INTERNATIONAL LTD - ‍HY GROUP REVENUE INCREASED BY 19% FROM R6.4 BILLION TO R7.6 BILLION​.SUN INTERNATIONAL LTD - ‍HY EBITDA INCREASED BY 15% FROM R1.6 BILLION TO R1.9 BILLION​.SUN INTERNATIONAL LTD - ‍HY ADJUSTED HEADLINE EARNINGS OF R206 MILLION 29% BELOW COMPARABLE PERIOD, ADJUSTED HEPS DOWN 29% TO 198 CENTS​.SUN INTERNATIONAL LTD - ‍BOARD HAS DECIDED NOT TO DECLARE AN INTERIM DIVIDEND FOR SIX MONTH PERIOD ENDED 30 JUNE 2017​.SUN INTERNATIONAL LTD - CO'S BORROWINGS AS AT 30 JUNE 2017 WERE R15.1 BILLION OF WHICH R11.4 BILLION CAN BE ATTRIBUTABLE TO SOUTH AFRICAN BALANCE SHEET​.SUN INTERNATIONAL - ‍INCREASE IN DEBT OF C.R600 MILLION ABOVE 31 DECEMBER 2016 LEVEL IS PRIMARILY ATTRIBUTABLE TO CAPITAL INVESTMENT AT TIME SQUARE​.SUN INTERNATIONAL - ‍S.AFRICAN ECONOMY TO REMAIN CHALLENGING, CONTINUED DOWNWARD PRESSURE ON PERSONAL DISPOSABLE INCOME AND DISCRETIONARY SPENDING ON GAMING​.  Full Article

Sun International sees HY HEPS to be a loss of between 71 cents and 85 cents
Thursday, 28 Sep 2017 09:16am EDT 

Sept 28 (Reuters) - SUN INTERNATIONAL LTD ::SEES ‍HY BASIC EPS LOSS OF 56 CENTS PER SHARE TO 62 CENTS PER SHARE VERSUS EARNINGS PROFIT OF 32 CENTS PER SHARE YEAR AGO​.HEPS FOR FINANCIAL HALF-YEAR ENDED 30 JUNE 2017 IS EXPECTED TO BE A LOSS OF BETWEEN 71 CENTS AND 85 CENTS.  Full Article

Sun International ‍HY total group revenue up 19 pct to 7.7 bln rand
Wednesday, 13 Sep 2017 10:45am EDT 

Sept 13 (Reuters) - Sun International Ltd ::‍HY TOTAL GROUP REVENUE INCREASED BY 19% FROM R6.4 BILLION TO R7.7 BILLION​.‍HY EBITDA INCREASED BY 15% FROM R1.6 BILLION TO R1.9 BILLION​.SEES HY HEPS EXPECTED TO BE A LOSS OF 65 -77 CPER SHARE VERSUS YEAR AGO HEADLINE EARNINGS PROFIT OF 87 CENTS PER SHARE​.‍HY ADJUSTED DILUTED HEPS EXPECTED TO BE 25% - 35% LOWER COMPARED TO YEAR AGO PROFIT OF 280 CENTS PER SHARE​.  Full Article

Sun International offers to buy 50 pct of EDS's interest in Sun Dreams
Tuesday, 30 May 2017 03:47am EDT 

May 30 (Reuters) - Sun International Ltd ::Proposed acquisition by Sun international of 50 pct of EDS's equity interest in Sun Dreams.Sun Latam agreed to acquire 1 289 277 (9.813 pct) ordinary shares of zero par value each, owned by EDS in issued share capital of Sun Dreams​.‍Purchase price payable by sun international to EDS and management shall be $63 million.‍Certain members of Sun Dreams' senior management have exercised their tag-along rights​.‍As a result thereof Sun Latam and Pacifico will each acquire 50 pct of senior managements' equity interests in Sun Dreams​.  Full Article

Sun International says FY revenue from cont ops up at 7.67 bln rand
Monday, 27 Mar 2017 02:14am EDT 

Sun International Ltd : Fy revenue from continuing operations of 7.670 billion rand versus 5.837 billion rand a year ago . Fy diluted adjusted headline earnings per share 223 centsper share versus 343 centsper share year ago . Expects gaming revenue in south africa to remain under pressure . Opening of casino at time square in april 2017 is expected to have a positive impact on group's performance going forward .Sun international - primary focus for foreseeable future will be to reduce debt and ensure successful implementation of recent acquisitions.  Full Article

Sun International names Norman Basthdaw as new CFO
Friday, 24 Mar 2017 10:30am EDT 

Sun International Limited : Appointment of chief financial officer .Agreed to appoint Norman Basthdaw as new CFO and finance director of Sun International, with effect from March 24, 2017.  Full Article

UPDATE 1-South Africa's Sun International close to exiting Nigeria

JOHANNESBURG, Sept 3 South Africa's Sun International expects an investigation into a shareholder dispute at its Nigerian operation to be completed shortly, paving the way for the casino and hotel operator to finally exit that market, it said on Monday.