South Africa-based casino operator Sun International has started to rein its debt after years of massive investing to diversify its global portfolio.

According to Business Report, the debt of Sun International is now at R15.1 billion (US$1.11 billion) at the end of June, an increase of R600 million year-on-year. The company attributed R11.4 billion (US$840.52 million) of the R15.1 billion (US$1.11 billion) to the South African balance sheet.

The investments in casino gaming in Chile, as well as the development of the Ocean Sun Casino in Panama and the Sun Nao casino in Colombia also contributed to the casino operator’s borrowings.

“All of the above investments and acquisitions were funded with debt resulting in a significant increase in the group’s gearing levels,” the group said, according to the report. “The group’s balance sheet remains resilient and the operations continue to generate strong cash flows.”