Sun International
{{Short description|South African resort hotel chain}}
{{Use dmy dates|date=October 2019}}
{{Use South African English|date=October 2019}}
{{Infobox company
| name = Sun International
| image =
| image_size =
| caption =
| revenue = {{increase}} R12.09B
| revenue_year = 2023
| founded = {{start date and age|1967|7|11|df=y}}
| defunct =
| location = Sandton, South Africa
| area_served = Southern Africa Chile
| founder = Sol Kerzner
| num_employees = {{decrease}} 7,340 (2023)
| key_people =
{{Plainlist|
- Anthony Leeming (CEO)
}}
| locations =
| brands =
| owner =
| industry =
{{Plainlist|
- Gaming Resort
- Hotels
}}
| equity = {{decrease}} R2.01B
| equity_year = 2023
| assets = {{increase}} R13.57B
| assets_year = 2023
| net_income = {{increase}} R1.21B
| net_income_year = 2023
| parent = Sun International
}}
Sun International Group is a South African gaming and hospitality company founded by Sol Kerzner. The Group {{Cite web |title=About Us |url=https://corporate.suninternational.com/about/ |access-date=2023-09-05 |website=Sun International |language=en}} owns diverse assets including the Sun City Resort near Rustenburg in the North West Province and an online gaming platform. Specialising in gaming, hospitality and entertainment, the company owns 42.5% of the South African casino market{{Cite web|url=https://corporate.suninternational.com/about/history/|title=History: The Sun International Journey|website=Sun International|language=en|access-date=2017-10-04}} and owns or holds a significant interest in 11 out of 38 operating casinos in South Africa.{{Cite web|url=https://www.ngb.org.za/organisational-areas/gambling-sectors/casinos.aspx#:~:text=By%20the%20end%20of%20the,following%20the%20covid%2D19%20pandemic.|title=Casinos by the National Gambling Board|website=National Gambling Board|language=en}} Sun International Hotels is headquartered in Sandton, Johannesburg.{{Cite web|url=http://www.referenceforbusiness.com/history2/4/Sun-International-Hotels-Limited.html|title=Sun International Hotels Limited - Company Profile, Information, Business Description, History, Background Information on Sun International Hotels Limited|website=www.referenceforbusiness.com|access-date=2018-08-17}} It was incorporated in South Africa in 1967.
History
Their hotel business traces its roots back to 1967, when the Southern Sun Hotel Company was created when South African Breweries and South African businessman Sol Kerzner joined forces. By 1983, Southern Sun Hotels was operating 35 hotels, and generating a net income of $35 million. At this time, South African Breweries split its hotel interests into two and Sun International, headed by Sol Kerzner, retained all of the casino hotels located in the areas that South Africa had designated as "independent homelands" and had Southern Sun as a 20% stakeholder. Sol Kerzner sold his shares in Southern Sun to focus on Sun International (South Africa). Southern Sun retained the company's other hotels in South Africa, and remained focused on the hotel market rather than casinos. 1984 saw the commencement of Kersaf Investments Limited, a company that took great interest in Sun International (South Africa). This commencement was by a scheme of arrangement, such that Sun International would form one of Kersaf's subsidiaries. Kersaf was more focused on cinemas, restaurants, shopping and leisure at first, but as the next twenty years passed, its hotel and casino interests thrived under the Sun International brand, and slowly Kersaf began to dispose of its other interests and acquire more share in Sun International.{{Citation needed|date=September 2021}}
After the end of Apartheid in South Africa in 1994, the so-called homelands were re-integrated into the new South Africa. This allowed Southern Sun to develop its own gaming resorts and began to compete increasingly with Sun International. In 2000, Southern Sun sold its stake in Sun International to Kersaf Investments Limited, who then continued to acquire minority interests in Sun International. In 2004, Kersaf Investments Limited merged with Sun International to form Sun International Limited, the company that exists today.{{Cite journal|date=12 September 2003|title=Notification of Decision to Approve Merger|url=https://www.gov.za/sites/default/files/25426i_0.pdf|journal=Competition Trubunal|volume=25426|pages=19|access-date=4 October 2017|archive-date=17 August 2018|archive-url=https://web.archive.org/web/20180817225603/https://www.gov.za/sites/default/files/25426i_0.pdf|url-status=dead}} In early 2015, Sun International sold its hotels in Botswana, Lesotho, Namibia and Zambia to Minor International.{{Cite web |title=SUN INTERNATIONAL TO DISPOSE OF AFRICAN ASSETS. CNBCAfrica, 12. February 2015 |url=https://www.cnbcafrica.com/2014/sun-international-african-assets/}} Since mid-2015, these have been run as hotels of the Avani Group.{{Cite web |date=2015-07-23 |title=30.06.2015 Nachrichten am Mittag {{!}} Hitradio Namibia |url=http://www.hitradio.com.na/30-06-2015-nachrichten-am-mittag/ |access-date=2022-04-24 |archive-url=https://web.archive.org/web/20150723005247/http://www.hitradio.com.na/30-06-2015-nachrichten-am-mittag/ |archive-date=23 July 2015 }} As of 2023, Sun International Limited owns or is involved in 13 hotels, casinos, and resorts.{{Cite web|url=https://corporate.suninternational.com/about/|title=About Us|website=Sun International|language=en|access-date=2017-10-04}}
Properties
File:A - sun city - the palace main entrance.JPG
File:HotelMonticello G 2348.jpg
Today, Sun International's operations include integrated resorts, luxury hotel products, limited payout machine slot routes, as well as casinos.
class="wikitable" |
Country
! Location ! Resort |
---|
{{flag|Nigeria}}
| Lagos |
rowspan="18" |{{flag|South Africa}}
| Brakpan | Carnival City Casino and Entertainment World |
Kimberley
| Flamingo Casino |
Cape Town
| Grand West Casino |
Worcester
| Golden Valley Casino |
Polokwane
| Meropa Casino and Entertainment World |
uMhlanga |
Ledig
| Sun City |
Pretoria
| Sun Bet Arena at Time Square Casino |
Port Elizabeth
| The Boardwalk Casino and Entertainment World |
near Port Edward
| Wild Coast Sun |
Bloemfontein
| Windmill Casino and Entertainment Centre |
Sun City Resort plays host to the Nedbank Golf Challenge annually.
See also
References
{{Reflist}}
{{Witwatersrand companies}}
Category:Companies established in 1967
Category:1967 establishments in South Africa
Category:Companies based in Sandton
Category:Gambling companies of South Africa
Category:Hospitality companies of South Africa
Category:Hotels in South Africa
Category:InterContinental Hotels Group brands
Category:Casinos in South Africa
Category:Companies listed on the Johannesburg Stock Exchange