Are casinos the dinosaurs of gaming?
The rise of online gaming might have caught the gambling-palace behemoths in the middle of a complacent nap
13 June 2024 - 05:01
It’s probably a stretch to suggest casinos are an antiquated business. Both Sun International and Tsogo Sun’s most recent results show reassuring cash generation and some resilient margins in earnings before interest, tax, depreciation and amortisation (ebitda).
But punters are polarised on the question of whether the two large casino groups are experiencing a “Capitec” moment — the shock that the launch of the technology-driven upstart appealing to a large swathe of unbanked people delivered to the complacent big four banks. ..
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