Sun International Chief Executive David Coutts-Trotter said revenue growth for the company’s year end figures at ZAR6.9 billion (US $961.4M), and year on increase of 17%, was due to a full-year's trading from the new Windmill Casino in the Free State province and the opening of another in the Western Cape in November last year.

South Africa's largest casino and hotel resort operator yesterday posted a whacking 33% increase in adjusted annual headline earnings per share up to ZAR7.19 (US $1.00). The company had advanced information in July that it expected adjusted headline EPS, which strips out non-trading, capital and certain extraordinary items, to rise 30-35%.

With gaming revenue showing improvement to 18% at ZAR5.4 billion (US $752.3M), slot revenues grew at 20%, while and table revenues are 8% up on Y/E to June 2006. Coutts-Trotter said the economic outlook was positive in the year ahead: “The group expects good growth in EBITDA from its hotels, resorts and casinos in the coming year.”

With limited growth at home, last March Sun International announced that it had entered into an agreement to acquire a 40% equity interest in the major new casino being built in Chile, south of capital city Santiago. The company is also finalizing agreements with partners in Lagos, Nigeria to acquire a 49% stake for US $38 million in the Federal Palace Hotel property on Victoria Island.

The company issued a veiled warning that finance costs, linked to a July share buy-back, would significantly impact adjusted headline EPS in the current year. At 1400 GMT, Sun International was trading 0.87 percent higher at ZAR150.50 (US$20.97), while the Johannesburg Stock Exchange mid-cap index was 0.25 percent to the good. (E-08.30.07)

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