Sun International bets on asset disposal to reduce debt

Sun International’s business update — which comes ahead of efforts to finalise a proposed R1.2bn rights offer — hints at some frantic behind-the-scenes activity with the gaming and leisure group’s important cash-generating assets enduring a prolonged lockdown.

With some serious debt obligations to cover — especially after the opening of the R4bn Time Square casino near Pretoria in 2017 — Sun has needed to take proactive steps to placate lenders and slash operating costs...

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