Diluted HEPS 142.0cps (-16.0% y-y).
Net turnover decreased by 3.0% y-y to R11 155m. Net gaming win revenue decreased by 4.4% y-y to R9 245m. Food and beverage revenue increased by 4.2% y-y to R675m. Rooms revenue increased by 2.5% y-y to R536m.
Expenses increased by 1.1% y-y while expenses-to-sales increased from 75.0% to 78.2%.
OPM decreased by 320bps to 21.8%. Margin reduction was attributed to the lower revenue, and poor performance by Gold Reef City (Gauteng), outlying Western Cape casinos and the Other casinos division.
Dividend of 60.0cps (FY24: 70.0cps).
Cash generated from operating activities down 9.3% y-y to R2 184m.
Revenue was under pressure due to operating in a market with limited discretionary spend and changing customer behaviour.
The Emerald Resort and Casino upgrade project continued to disrupt operations. Refurbishments are expected to be completed during 2025.
