Clouds over Sun International
It may have a post-Covid recovery plan, but the leisure firm will have to bring its ballooning debt under control first
03 September 2020 - 05:00
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...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.