On March 18, South Africa’s Sun International reported an income growth of 4% in 2019. This helped the company make progress in reducing its debt to R8.8 billion ($510 million) from R9.2 billion ($530.2 million), according to a company presentation.

The success was driven in part by an 82% increase in the income of SunBet, the company’s online sports betting operation. That vertical posted earnings before interest, taxes, depreciation, and amortization (EBITDA) of R44 million ($2.6 million). Overall, the company’s adjusted earnings increased by 109% to a total of R763 million ($45.97 million).

CEO Anthony Leeming said the company is pleased by their results:

“We are pleased with the progress we have made against these goals that have assisted us in achieving extremely pleasing results against the backdrop of an increasingly challenging environment. We were particularly pleased with our LatAm operations which showed resilience in the face of unexpected and widespread social unrest in Chile during the last quarter. Sun Dreams also demonstrated pleasing de-gearing and balance sheet strength.”