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 exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now