About this app
How to play Hugo 2
Angelozzi was asked about previous cross-border M&A that had failed to deliver on initial expectations and why he felt this time was different.
He said Cirsa wass already a well-managed company and in previous deals, it had tried to make too many changes to an asset. “First of all, in many cases you had M&A which was of assets that were second tier. The promise was to completely change the nature and the competitive position of the asset, in many cases, a turnaround.
“In this case, it’s a completely different situation. You have a group, not a single company in a single country, a group which has been a solid group for 10 years and delivering. There’s no turnaround to be made. It’s already very well managed. It’s number one in its markets.”
How to play Hugo 2
H1 growth was driven by Sun International’s online division, with revenue from SunBet surging 35.5% year-on-year to R1.18 billion.
Sun International CEO Ulrik Bengtsson noted SunBet’s revenue growth of 35.5% outpaced the 19% South African online market’s overall growth of 19% during the period,
SunBet’s growth was supported by a 32.3% rise in active player days, while first-time depositors also increased 17.5%.
How to play Hugo 2
The report identifies land-based and online casinos and sports betting as carrying the highest money laundering exposure. By contrast, lotteries and scratchcards present lower risk.
It finds that online gaming shows more documented terrorist financing activity than gambling, although proliferation financing risks remain limited across both sectors.
Cash, e-wallets, mobile money and virtual assets emerge as the payment methods most vulnerable to abuse. This is particularly true where operators use them to structure deposits below reporting thresholds.
