South African casino and hospitality operator Sun International could cut 2,300 local staff from its payroll as it adjusts to a shrinking geographical presence and COVID-19 restrictions.

This week, Sun International released its financial report card for the six months ending June 30, during which revenue totaled a mere R3.7b (US$223m), less than half the sum generated in the same period last year. Adjusted earnings fell 96% to just R79m, resulting in an operating loss of R706m.

All of Sun’s retail properties were forced to halt operations due to COVID-19 and thus all geographic segments contributed to the H1 decline. South African revenue fell 55% to R2.47b, Latin America was down 58% to R1.17b and Nigeria & eSwatini also fell 58% to R66m.

It’s important to note that Sun is in the process of exiting its LatAm operations in Chile, Argentina and Peru following last month’s agreement to sell Sun’s majority stake in the Sun Dreams casino and betting business, which had been struggling long before COVID-19 took hold.