Tsogo Sun Gaming (TSG) FY23 – Results Snapshot

Diluted HEPS up +37.9% y-y to 152.0cps (LY: 110.2cps).
Net turnover increased by +26.6% y-y to R11 318m
(LY: R8 938m). Net gaming win revenue increased by +23.8% y-y to R9 627m (LY: R7 779m). Food and beverage revenue increased by +61.4% y-y to R589m (LY: R365m). Rooms revenue increased by +65.3% y-y to R501m
(LY: R303m).
OPM decreased to 26.4% (LY: 29.9%).
Expense to sales increased to 73.6% (LY: 70.1%). Expenses increased by +33.0% y-y (LY: +33.0% y-y).
Dividend of 87.0cps (LY: 19.0cps)
Cash generated from operating activities up +42.6% y-y to R2 505m (LY: R1 757m).