South
African Casino Revenues Up
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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