Covid-19 has unceremoniously derailed Sun International’s initial attempt at a recovery — following a R1.6bn rights offer in 2018 — by re-inflating its debt levels and compromising its plans to plump up profit margins.

The gaming and leisure group’s bombed-out share price — it was trading at R12.50 this week, having fallen by almost 75% over the past two years — shows the market still has serious reservations about a swift recovery effort...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now