South African casino operator Tsogo Sun Holdings plans to focus on international expansion after reporting flat operating profits in the first half of its fiscal year

For the six months ending September 30, Tsogo Sun reported revenue of R6.3b (US $445.4m), up 8% from the same period last year. Operating profit was flat at R1.58b while net income rose 6% to R869m.

Gaming win was up a “disappointing” 3% to just under R3.7b, as slots win rose 1% to R2.74b and table games gained 12% to R938m. The company’s high-end ‘privé’ market “continued to perform well” despite volatility in win rates, while the main floor gambling business remained “under pressure.”

Tsogo Sun operates 14 gaming venues in six provinces, with the bulk of gaming win (R1.98b, +3.8%) coming from its three wholly owned operations in Gauteng. The three properties in KwaZulu-Natal contributed just over R1b (+0.3%) following a “notable slowdown” in business. The two Mpumalanga venues anted up R288m (+2.6%) and the three venues in the Western Cape added R233m (+0.8%).